Afterpay Holdings’ Step towards International Expansion
Afterpay Holdings Ltd (ASX: AFY) has inked an agreement with Trade Me Group Ltd (ASX: TME), under which Afterpay’s exclusive ‘buy now, pay later’ option will be offered on Trade Me’s marketplace. This is said to provide Afterpay a large channel to onboard both New Zealand customers and retailers. Further, the move enables Afterpay’s launch into the New Zealand market which is a first-step in the group’s stride to implement its international expansion strategy post growth of the business and operating foundation established in Australia. For quite some time, Afterpay was looking for a partner who was equally passionate about providing a customer centric product.The collaboration with TME seems to kick off the plan well wherein Trade Me happens to match up with AFY’s retail approach for the New Zealand market. Trade Me has been among the key influential brands in New Zealand (although a little less known in Australia), and has over 4.7 million listings live onsite and over 4.1 million user accounts.
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