do you mean the money accounts it has patterned with Westpac on...

do you mean the money accounts it has patterned with Westpac on for the ANZ region only? Those money accounts? Because i don't believe it has announced its doing it in the US it's largest market or the UK...

So i don't think it will amount to much.

At the moment consumers can use Afterpay and connect their debit or credit card to it if I'm not mistaken and set up the payments to come out each fortnight.

What is the cost to consumers to do this, not much. Why if a person was using ANZ bank or a CBA would they on top of opening an Afterpay account open up an Afterpay account? To store money there for what? Future purchases? What's the incentive for consumers to store money there over somewhere else?

Afterpay isn't accepted everywhere. In the Us they have signed 10k merchants so far of a possible 18 million about 0.05% so far. It's similar numbers in Australia. Afterpay when looking at all merchants in Auatralia is accepted at less than 3 percent of merchants...

Consumers know this and they know they can't turn off any savings account or credit card it they use Afterpay because it's not accepted evwrywhere. Afterpay is not an alternative to a credit card at all. Zip actually is because anywhere you use a visa card you can use zip....

If zip were to set up bank accounts i would sign up with them for sure because i use tap and zip for everything but i don't think zip want to become a bank. Does Afterpay want to become a bank by offering savings accounts?
Zips already able to go to a new merchant with hard data and tell them this is how many customers use tap and zip to buy stuff from you. Afterpay don't have this data or intelligence on where else it's customers shop unless they buy it.

Westpac has what 10-15 percent market share right... It's not a CBA or a nab. I used to be with st George years ago and while good before the acquisition after the Westpac acquisition it went down hill for st George and i left. Westpac haven't got a great name in the market


In terms of what they offer consumers; it's a crap experience. Their processes to get an account or credit card or mortgage are prehistoric to today's standards and digital world. AFR states Westpac has a lagging view of their own credit risk due to still operating data on paper and old spreadsheets..... Not the kind of company if i was Afterpay I'd want to partner with.

I think the partnership with Westpac will be more damaging than good for afterpay in the long run. They are now seen as associating with Westpac bank. .whereas zip was different, Westpac just owned a 5 percent stake in them.
Ohhhh boy i bet Westpac are kicking themselves seeing the zip shareprice today. But hey i guess when you get one of the largest AML in Australias banking history over 1 billion then you need to sell a few things to cover that, which is exactly why they sold their stake in zip to cover fraudulent behaviour fines.

So Afterpay are partnering with one of the crookedest banks in Auatralia.

What's next?Afterpay offers Super accounts with AMP? Watch this space, it's possible.