DJ Afterpay, Zip Shaping for Strong 1H Despite Competition -- Market Talk
0143 GMT - Afterpay and Zip Co. are likely to deliver strong growth in terms of
transaction volumes and customer numbers over 1H of FY 2021 despite increasing
competition, Citi says. The bank's August web traffic analysis suggests Klarna regained
top spot from Afterpay in terms of U.S. buy-now-pay-later app downloads, while Zip
website visits declined on-month in Australia and New Zealand. However, Citi sees
Afterpay's Australia and New Zealand site visits surging 14% on month in August, and
record downloads for Zip's QuadPay app, supported by its shop anywhere capability.
Competition is strong but a strong merchant pipeline and the shift to ecommerce offer
near-term support, it says. ([email protected]; @StuartLCondie)
(END) Dow Jones Newswires
September 13, 2020 21:43 ET (01:43 GMT)
Copyright(c) 2020 Dow Jones & Company, Inc.
Monday 14 September 2020 11:43:00.000 AEST
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