Tencent acquires 5% stake in Afterpay

Tuesday 5 May 2020 14:07 CET | News

Hong-Kong-based mobile commerce conglomerate Tencent has acquired a 5% stake in Australia-based instalment purchase platform Afterpay.

Afterpay officials said the deal includes the potential to collaborate on future technology, geographic or payment areas. Afterpay offers 'buy now, pay later' services, with  4.4 million customers in the US, operating on more than 9,100 merchant sites.

Tencent said that inside China, the company operates the digital payment service and a rapidly growing fintech platform and outside China they have actively invested in fintech companies, providing them with insights into emerging fintech services.

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Keywords: Tencent, Afterpay, online payments, ecommerce, China, Hong Kong, Australia, fintech, emerging fintech
Categories: Payments & Commerce | Online Payments
Countries: Hong Kong
This article is part of category

Payments & Commerce