Afterpay says ‘trade me’ in first international deal

3 years ago admin Comments Off on Afterpay says ‘trade me’ in first international deal

Sydney-based retail payments start-up Afterpay has landed its first international deal, signing up with New Zealand marketplace and classifieds website Trade Me.

Afterpay managing director Nick Molnar said Trade Me will offer Afterpay’s ‘buy now, receive now, pay it in four’ option exclusively on its platform, allowing Afterpay to acquire New Zealand customers and retailers.

“It was very important for Afterpay to find a partner who was equally passionate about providing an unashamedly customer-centric product and from the outset Trade Me clearly understood our retail, rather than finance, approach. We feel extremely privileged to be able to partner with such a household name in the New Zealand market,” Mr Molnar said in a statement.

According to Mr Molnar, Afterpay until now has remained focused solely on the Australian market but the time was ready to launch into New Zealand.

“Afterpay has a proven ability to scale and provides exceptional customer service which appealed to Trade Me, fitting in with its aim of making it as easy as possible to buy and sell on the platform,” he said.

Afterpay will be available on Trade Me later this year.

As The Australian reported last month the fintech start-up, backed by corporate raider Ron Brierley and a host of his Guinness Peat alumni, revealed in April that total merchant sales rose to $144.9 million in the quarter, 19 per cent ahead of stockbroker Bell Potter’s $121.8m estimate.

Significantly the company almost doubled the number of retailers using its services quarter-on-quarter, with total retailers signed up now about 3700 compared to 2000 at the end of the last quarter.

Reader comments on this site are moderated before publication to promote lively and civil debate. We encourage your comments but submitting one does not guarantee publication. We publish hundreds of comments daily, and if a comment is rejected it is likely because it does not meet with our comment guidelines, which you can read here. No correspondence will be entered into if a comment is declined.