This Month
Nick Molnar to step up at Block, will report to Jack Dorsey
On the three-year anniversary of Afterpay’s blockbuster sale to Block, its founder Jack Dorsey has promoted Nick Molnar to head of sales.
- James Eyers
July
Resurgent Zip raises cash and pays big break fee to eliminate its debt
Zip has indicated it will push the accelerator on growth in the United States despite regulators investigating whether it has violated consumer protection laws.
- James Eyers
Zip Co in $267m raise to pay down debt; Goldies, UCP on ticket
Fund manager sources said the placement is expected to price at about $1.52 a share, representing a 5.3 per cent discount to the last close.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Banking Winner
- Sustainability Leaders
‘Everyone wins’: Financing renewables at scale
Brighte looks to boost the renewables transition through its ‘one-stop shop’ model, winning the Banking and Financial Services category.
- Prashant Mehra
June
- Updated
- Payments
RBA flags BNPL fee crackdown in broader probe into credit cards
The central bank’s head of payments says it will launch a review of regulations as soon as it is handed the power to do so under new legislation in parliament.
- Updated
- James Eyers
Apple to drive iPhone users towards buy now, pay later loans
The global technology giant will upgrade Apple Pay to bring buy now, pay later-style payment options to the point of sale. ANZ is the first major bank to join up.
- James Eyers
- Exclusive
- Luxury property
Blackstone chief spends $13m to move down Mosman hill
Craig Newman and his wife, Anna, have seized a chance on the tightly held Balmoral slopes.
- Bonnie Campbell
Boost for Afterpay as Block drops plans for Cash App in Australia
Afterpay Plus will make buy now, pay later more ubiquitous, says Nick Molnar, in his first public comments on the growth strategy in Australia post-acquisition.
- James Eyers
Afterpay says Treasury has overreached on BNPL regulation
Consumer groups, banks and even the corporate regulator say they also have concerns about Labor’s proposed laws to regulate buy now, pay later as credit.
- James Eyers
May
Zip’s Larry Diamond returning to Sydney, says US mission accomplished
Diamond says he heeded warnings from James Gorman, setting Zip onto a profitable path in the US, where he expects BNPL to keep winning share off credit cards.
- James Eyers
- Opinion
- Opinion
Payments innovation under threat from RBA
Buy now, pay later, which revolutionised Australia’s highly concentrated payments system, is under potential threat from increased regulation.
- Tony Boyd
Buy now, pay later surges as Dorsey realises Cash App vision
Block’s BNPL volumes are rising as Afterpay is rolled into Cash App, which has 24 million active users in the US. The stock jumped more than 10pc on Friday.
- James Eyers
April
Zip Co’s turnaround story lands the BNPL on takeover watchlists
No doubt CBA’s internal M&A team adheres by its mandate of looking at all options to maximise shareholder value.
- Sarah Thompson, Kanika Sood and Emma Rapaport
March
‘Lack of transparency’ to force credit licences on BNPL
Buy now, pay later players will have to hold a local credit licence to operate in Australia and take reasonable steps to ascertain a customer’s financial position.
- Lucas Baird
Buy now, pay later is pulling off the improbable – a comeback
Block and Zip valuations are rising as peak interest rates pass. Klarna is considering listing in the United States. Is the sector’s winter finally over?
- James Eyers
February
Nick Molnar backs Block’s bid to reshape US banking
The billionaire Afterpay co-founder Nick Molnar tells AFR Weekend he’s been working with Jack Dorsey on Cash App, and they’re ready to tackle US banks.
- James Eyers
January
Zip shares jump on path to profitability
Zip shares opened 15 per cent higher on Monday morning, in a sector still weighted down by negative sentiment.
- James Eyers
December 2023
Zip raises $150m corporate loans at 15pc
The buy now, pay later company says it has refinanced its corporate loan, the latest in a long-running effort to clean up its balance sheet.
- Jonathan Shapiro
Bullock says banks should bear more costs of moving banknotes
The RBA governor’s comments come amid negotiations with cash transport firm Armaguard, which has warned it needs an injection of funds to operate.
- Updated
- James Eyers
Afterpay’s bad debts climb, just like its costs
Accounts filed by the Block-owned buy now, pay later company for the 18 months to December 2022 show scale eluded the Australian business.
- Nick Bonyhady