Afterpay (OTCMKTS:AFTPF) is an Australian financial technology company that pioneered the “buy now, pay later” (BNPL) model. Established in 2014 by co-founders Nick Molnar and Anthony Eisen, Afterpay enables consumers to split purchases into interest-free installments, with payments typically spread over four equal fortnightly instalments. The company’s platform integrates directly with merchants’ online and in-store point-of-sale systems, offering shoppers a seamless checkout experience.
Afterpay generates revenue by charging participating merchants a fee on each transaction, rather than levying interest or late fees on customers who repay on schedule. Its proprietary risk-management algorithms assess creditworthiness in real time, helping to minimise defaults while allowing a broad range of consumers to access the service. The company provides a web-based portal and mobile application, through which users can manage payment schedules, view transaction histories and receive personalised purchase recommendations.
Since its inception, Afterpay has expanded beyond its Australian roots into New Zealand, the United States, the United Kingdom and Canada. The company has forged partnerships with major retailers across fashion, beauty, electronics and home goods segments, and continues to pursue alliances with both online platforms and traditional brick-and-mortar outlets. Its international footprint underscores a strategy of combining rapid merchant onboarding with localized marketing and compliance efforts tailored to each market.
In August 2021, Afterpay became a wholly owned subsidiary of Block, Inc., the global payments and financial services firm led by Jack Dorsey. Post-acquisition, Afterpay maintains its own brand identity and management team, with founders Molnar and Eisen actively guiding strategic growth initiatives. The company remains focused on evolving its product suite, enhancing consumer engagement and extending its network of merchant partners worldwide.
AI Generated. May Contain Errors.