Tencent afterpay26 Jun 2020 08:47
Afterpay is deepening its relationship with Chinese giant Tencent to capitalise on a dramatic shift away from credit cards by Millennial and Gen Z customers that has accelerated during the pandemic, says Nick Molnar. The Afterpay co-founder, appearing at The Australian Financial Review Retail Summit, also spoke candidly as an employer about managing younger generations during a time of political and economic upheaval.Tencent was interested in Afterpay because it is a "debit card-led platform going global", Mr Molnar said, and was familiar because most of the billion users of its WeChat Pay platform also use debit cards.
be interesting to see how much cash TSL keeps raking in now from the 10% clearpay stake and the imminent revaluation will uplift the NAV substantially here