Afterpay CEO Nick Molnar: Technology is so freely available that anyone can build anything really quickly. Louie Douvis
While Sezzle and other US competitors will be in the ear of retailers also being targeted by Afterpay, this indirectly would help the system scale up by building awareness, Mr Molnar said.
Competition is a really good thing; it forced us to do better. It is what drove fast retail adoption here, and will in the US, because they are getting pitched by multiple providers, he said.
Afterpay had about 1 million customers and 2000 merchants signed up in the US at the end of last month, but gross losses fell to 1.1 per cent of underlying sales at the last half. Asked how the business was keeping a lid on bad debts despite its rap…
Read the full article at: https://www.afr.com/business/banking-and-finance/afterpay-ceo-says-bring-on-the-competition-20190415-p51ect
