Small Business Check In: Afterpay

Aussie Fintech-startup, Afterpay is growing internationally, but despite the hype their being 'buy now, pay later' business model is being reviewed by ASIC.

Aussie Fintech-startup, Afterpay is seeing international success, now being featured by celebrity influencer Kylie Jenner.

Kylie Jenner (sister of Kim Kardashian) has announced her online store, ‘Kylie Cosmetics’ will provide Afterpay to her customers.

Small Business Secrets first met Afterpay founder Nick Molinar earlier this year. Since then the company has expanded to the United States offering its service to retail conglomerate Urban Outfitters.

Primary Healthcare’s Dental Surgeries has also jumped on-board the Afterpay juggernaut.

Primary Health Care says in the first eight weeks of providing Afterpay it had a jump of 800 new customers.

But despite all the hype, corporate regulator, ASIC  has launched a review into Afterpay’s “buy now, pay later” business model to assess if new laws need to be introduced to protect consumers.