Australia: market cap of BNPL companies on ASX 2023| ��ƽ��

Market capitalization of Buy Now, Pay Later companies listed on the ASX in Australia as of September 2023 (in million Australian dollars)

Characteristic	Market cap in million Australian dollars
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Release date

September 2023

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Region

Australia, Australia and Oceania

Survey time period

as of September 2023

Supplementary notes

Effective as of January 31, 2022 (Pacific Standard Time) / February 1, 2022 (Australian Eastern Daylight Time) (the “Effective Date”), Block, Inc. (formerly Square, Inc.) (“Block”), indirectly through its subsidiary Lanai (AU) 2 Pty Ltd, completed its acquisition of Afterpay Limited (“Afterpay”) by acquiring all of the issued shares in Afterpay (the “Acquisition”). Values have been rounded.

Citation formats

As of September 2023, Block, Inc was the largest Buy Now, Pay Later (BNPL) company listed on the Australian Securities Exchange (ASX) with a market capitalization of over **** billion Australian dollars. At the end of January 2022, U.S. payment firm Block, Inc acquired the Australian market leader Afterpay Limited.

Afterpay’s business model

Founded in Australia in 2014, Afterpay offers a BNPL service that allows both in-store and online customers to purchase a product immediately while paying it off in installments. Afterpay’s income consists of processing fees from the merchant, and late payment fees from the consumer. In Australia and New Zealand, the company’s segment income in the 2021 financial year reached *** million Australian dollars, with the number of active customers in the millions.

BNPL’s wide reach

BNPL services are widely used in Australia with users stating convenience of use as a main reason for using BNPL as a payment option. Australia was one of the leading countries globally in terms of BNPL's market share of domestic e-commerce payments. As of early 2021, the large majority of Australian consumers were at least aware of BNPL as a payment option, with the service looking likely to remain as a viable payment option into the future.