Afterpay Limited (Afterpay) is an instalment payment service provider that allows consumers to buy products and pay for them at a future point in time. Afterpay was founded in Australia in May 2014 and has expanded its services to New Zealand, the United States and the United Kingdom, since its inception.
The company was formed through the merger of Afterpay and Touchcorp Ltd in June 2017, for which Afterpay had been identified as the acquirer of Touchcorp Ltd. On 29 November 2019, the company changed its name from Afterpay Touch Group Limited to Afterpay Limited.
As at 30 June 2019, Afterpay had 4.6 million active users and 32,300 active merchants, which had transacted at least once over the 12 months to 30 June 2019.
Afterpay’s principal place of business is located at 406 Collins Street, Melbourne, Victoria, Australia.
Afterpay Limited is listed on the Australian Securities Exchange (ASX) under the code APT.
The Afterpay service is offered as a payment option by participating merchants via the merchant's online platform or in their physical store. When a customer chooses to purchase products using Afterpay, they receive the purchased products upfront (the company pays the merchant for the purchased products upfront) and repay the purchase price in instalment to the company.
Afterpay Australia - This segment is comprised of the Afterpay Australia platform. For the financial year end 30 June 2019, the Pay Now segment accounted for 74.53% (AUD 196.8 million) of total income.
Afterpay United States - This segment is comprised of the Afterpay United States platform. For the financial year end 30 June 2019, the Pay Now segment accounted for 14.77% (AUD 39.0 million) of total income.
Afterpay other - This segment is comprised of other Afterpay platforms outside of Australia and the United States. For the financial year end 30 June 2019, the Pay Now segment accounted for 4.23% (AUD 11.2 million) of total income.
Pay Now - The Pay Now segment is comprised of the company's mobility, health and e-services offerings. Through these offerings the company provides payment guarantee services for businesses against fraud using its proprietary platforms. They also enable customers to make both in-store and online purchases via mobile apps and more. For the financial year end 30 June 2019, the Pay Now segment accounted for 6.47% (AUD 17.1 million) of total income.
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