On May 01, 2020, Australian buy now, pay later (BNPL) firm Afterpay announced that Tencent had invested A$390 million (nearly $250 million USD) to acquire a 5% stake in the company. Afterpay is present in four key markets: US, UK, Australia, and New Zealand. This investment offers Tencent a chance to leverage Afterpay’s innovative payment solutions with its existing payment products such as WeChat Pay, both of which accept payments via QR codes.
As experts in fintech consulting and payments consulting, Penser tracks new trends in the industry. We offer due diligence services for investors and vendors as well as digital transformation and strategic planning services. Contact us to know more about how we can help your business.