Latest news with #Afterpay
Techday NZ
16 hours ago
- Business
- Techday NZ
Binance names Matt Poblocki General Manager for Australia & NZ
Binance has appointed Matt Poblocki as General Manager for its operations in Australia and New Zealand. Poblocki brings nearly 20 years of experience in fintech, regulatory, and commercial business strategy to the role, having previously held senior executive positions at well-known digital businesses including PayPal, Afterpay, and eBay, as well as working with start-ups and scale-ups in various international markets. With over one million users in Australia and recent figures suggesting nearly one in three Australians have at some point owned cryptocurrency, the country has established itself as one of the most developed and regulation-forward digital asset markets worldwide. The decision to appoint Poblocki is seen as a step to further Binance's growth ambitions in the region. Few markets are as digitally capable and commercially dynamic as Australia. With a strong ecosystem, a progressive policy environment, and millions of Australians already engaging with crypto, we have a real opportunity to lead responsibly on the global stage," said Mr Poblocki. Poblocki said that both Australia and New Zealand are globally recognised for their rapid adoption of technological innovation. "Australia and New Zealand are renowned globally as early and fast adopters of innovative technology. This next wave of Web3 and blockchain is well and truly upon us. I'm excited to help shape the next chapter of growth and innovation for digital assets in Australia and New Zealand, and energised by the opportunity to pair Binance's global expertise with local momentum to build a trusted future for crypto in our region," he said. Poblocki previously held an executive leadership role with eBay and was influential in PayPal's early development and expansion. At PayPal, he oversaw legal affairs in Australia and New Zealand, later progressing to international regulatory and legal responsibilities across 170 markets from the Singapore headquarters. Poblocki then joined Afterpay, working on expansion plans across Asia, and has since co-founded start-ups and advised on the international growth of Australian and overseas scale-ups. Throughout his career, Poblocki has worked closely with government and regulatory bodies, including APRA, RBA, AUSTRAC, and ACCC, providing him with both commercial and regulatory expertise. Addressing Binance's future direction in Australia and New Zealand, Poblocki said: Our next chapter will be about showing what responsible growth really looks like. That means combining commercial strategy and innovative product offerings with proactive engagement with regulators, robust compliance, and supporting everyday Australians with safe access to the digital asset economy. Regulation and innovation don't have to be at odds. In fact, they must go hand in hand if we want to build a future that all Australians want to be part of. Richard Teng, Chief Executive Officer of Binance, welcomed Poblocki's appointment. "Matt brings an exceptional track record of scaling some of the most recognisable fintech brands across complex, highly regulated markets," Teng said. "He brings a unique ability to connect governance leadership with commercial strategy. His appointment reinforces our commitment to the Australian and New Zealand markets and to building a sustainable digital asset ecosystem for the long term." Poblocki's combination of legal, regulatory, and commercial acumen is expected to play a role as the digital asset market in Australia and New Zealand continues to evolve and as regulatory standards mature further in the coming years. Follow us on: Share on:
Forbes
3 days ago
- Business
- Forbes
Credit Cracks Are Now Fractures: The Next Phase Is Here
stack of multicolored credit cards on black background Credit Cracks Are Spreading: Rising Delinquencies And Recession Signals To Look Out For In 2025. In earlier pieces, I focused on what most of Wall Street had been overlooking. Mortgage delinquencies were the first signal. Then came auto loan defaults, reaching a 15-year high where even subprime borrowers began missing payments on the one item that often determines employment: their vehicle. Credit cracks are appearing. These weren't isolated issues. They marked a shift from stretched to strained across consumer credit. Now that strain is expanding steadily and across layers of the market. And still, most investors aren't pricing it in. Credit stress doesn't erupt. It spreads. We've moved from warning signs to a broader spillover. Repricing is the next phase and it's already in motion. Credit Is Weakening From The Middle This is no longer just about subprime risk. A Bankrate report shows credit card balances have jumped over 50% since early 2021. But more telling is who's under pressure now. Prime borrowers with strong credit and stable income are starting to slip. Experian's Q3 2024 data reports that while average FICO scores remain at 715, monthly non-mortgage debt payments have climbed 5.2% year-over-year. That tension is showing up in student loans and other floating-rate debt. Buy Now, Pay Later platforms are adjusting. Klarna, Affirm, and Afterpay are shortening repayment terms and tightening approval standards. They're reacting to real-time data from their own books. Stress is moving up the credit curve, and the signs are visible. Lending Standards Are Tightening Fast Defaults are rising and lenders are pulling back. That much is expected. What stands out now is how early and broadly this retrenchment is happening. Regional banks, still vulnerable after the SVB collapse, are quietly retreating from consumer credit. The Fed's latest Senior Loan Officer Survey shows tightening across personal credit, auto loans, and cards. Fintech lenders dependent on securitization see funding slow as ABS market appetite weakens. In some cases, new loan originations have stalled altogether. Consumer loan growth has gone flat. In certain sectors, it's shrinking. When credit access disappears, risk spikes, not always due to income loss, but from the absence of rollover liquidity. Liquidity is vanishing. And as it dries up, consumer behavior turns fast. Earnings Will Show The Stress The numbers are about to reflect what the data has already been suggesting. Starting in Q3 and continuing through Q4, we'll likely see pressure in three key areas: Retailers will also feel it, especially those exposed to private-label credit. Think Best Buy, Target, or any business with embedded financing models. The Risk Is Micro, Not Macro Despite mounting signals, investor positioning hasn't changed much. Regional banks still trade at 1.2–1.4x tangible book. Consumer lenders remain priced for smooth conditions. Auto ABS spreads remain tight, even as default risk increases. The disconnect lies in the story markets are telling themselves. Wages are stagnant. Pandemic savings are exhausted. Credit growth is stalling. But investor optimism hasn't caught up to this reality. It's about slow erosion through liquidity withdrawal and shifting consumer behavior. By late 2023, we saw early signs: rising balances, spending fatigue, and payment slippage. Now we're in the broader stress phase: credit cards, auto loans, BNPL, and even prime borrowers are under pressure. Next comes institutional reaction: reserve builds, risk repricing, and M&A among overstretched lenders. Where Dislocation Creates Opportunity When data and narrative diverge, opportunity emerges. How To Protect Yourself The popular narrative that the consumer is fine is already outdated. Behavior is shifting. Defaults are spreading. Liquidity is contracting. Markets haven't priced it in yet. But the repricing phase is underway. This is a moment for positioning, not reaction. The advantage belongs to those who act early while others are still watching lagging indicators. The credit cracks are widening. And those who are tracking the underlying behavior already know what's next.
Business Wire
5 days ago
- Business
- Business Wire
Block Set to Join the S&P 500
DISTRIBUTED-WORK-MODEL/OAKLAND, Calif.--(BUSINESS WIRE)--Block has been added to the S&P 500, effective July 23, 2025. It's a milestone that reflects the strength of our business and the work of thousands of people building tools to increase access to the economy, across our brands including Square, Cash App, Afterpay, TIDAL, Proto, and Bitkey. Thanks to our customers, teams, and shareholders who've been with us on the journey. We're just getting started. About Block, Inc. Block, Inc. (NYSE: XYZ) builds technology to increase access to the global economy. Each of our brands unlocks different aspects of the economy for more people. Square makes commerce and financial services accessible to sellers. Cash App is the easy way to spend, send, and store money. Afterpay is transforming the way customers manage their spending over time. TIDAL is a music platform that empowers artists to thrive as entrepreneurs. Bitkey is a simple self-custody wallet built for bitcoin. Proto is a suite of bitcoin mining products and services. Together, we're helping build a financial system that is open to everyone.
Yahoo
5 days ago
- Business
- Yahoo
This Stock-Split Stock Is Up More Than 800% in the Last Year. Is It a Still a Buy?
Key Points Sezzle has been one of the best-performing stocks of the past year. The BNPL specialist has seen exploding growth over the last year. The industry has a long runway ahead of it if it can continue grabbing share from credit and debit cards. 10 stocks we like better than Sezzle › By now, investors are familiar with the big winners over the last couple of years, like Nvidia and Palantir, but there's one little-known buy-now, pay-later (BNPL) stock that has crushed the returns of both of those popular artificial intelligence (AI) stocks. I'm talking about Sezzle (NASDAQ: SEZL), a fast-growing fintech that was just a small-cap company until recently. After soaring more than 800% over the last year, Sezzle has a market cap of roughly $4.5 billion, meaning the stock could easily be a multibagger from here. The company also recently rewarded investors with a 6-for-1 stock split in March. That doesn't change any fundamentals about the business, but it is a reflection of management's confidence in future growth, and investors tend to respond positively to stock splits. What is Sezzle? Sezzle was founded in 2016, led by CEO and co-founder Charlie Youakim, who had experience in the payments industry after co-founding the mobile parking payments app Passport. After moving on from Passport, Youakim decided to target a larger corner of the payments sector, setting his sights on retail. Since it came after larger BNPL companies like Afterpay (now owned by Block), Affirm, and Klarna were well-established, Sezzle has had to be scrappy to get to where it is today. The company initially raised capital and went public in Australia before eventually going public through a direct listing in the U.S. It then delisted its Australian listing. In an interview with The Motley Fool, Youakim said the company, which recently filed a lawsuit against Shopify, has overcome a great deal of adversity in growing to where it is today. He said Shopify "was basically blocking us on its site" when the e-commerce platform made up 80% of revenue. After previously cutting headcount from 580 to 240 and making some other tough decisions, Sezzle has turned profitable and is growing rapidly. It's also diversified its merchant partners, and today, Shopify makes up less than 5% of its revenue. Sezzle by the numbers An 800% surge in a stock doesn't just happen, and Sezzle has the numbers to back that monster growth. In the first quarter of 2025, revenue jumped 123% year over year to $104.9 million, benefiting from increased adoption of subscription programs and several quarters of accelerating momentum. In fact, Sezzle's revenue growth has accelerated for five quarters in a row, and its profits have also soared. In Q1, operating income jumped 260.6% to $49.9 million, an operating margin of nearly 47.6%, and earnings per share surged from $0.22 in the quarter to $1.00. Its total of monthly on-demand and subscription customers jumped 77.4% in the quarter to 658,000. The company is seeing increased purchase frequency, and gross merchandise volume (GMV) jumped 64% over the prior year, showing that increased spending with Sezzle is driving most of the growth. Sezzle's secret Like most BNPL operators, Sezzle makes money on sales from the merchant, which pays a 6% processing fee plus $0.30 on transactions. However, Sezzle's subscription products have helped drive growth, including Sezzle Anywhere, which allows users to use Sezzle virtually anywhere Visa is accepted. The company has launched other popular products as well, like auto-couponing, which automatically finds coupons the customer can use, and its Sezzle Up feature allows users to establish a credit history with Sezzle. Most of its users are young adults and have low to medium income levels. Additionally, the company has a rewards program called payment streaks, which gives customers points every time they make an on-time payment. Sezzle has also managed credit risks by cutting off customers when they miss payments, essentially preventing them from continuing to borrow and spend on the platform. That's a meaningful difference from credit cards that allow users to rack up debt they often struggle to pay. Is Sezzle a buy? Sezzle stock exploded following the company's first-quarter report, though the stock has cooled off this month as other high-flying growth stocks have pulled back in what could be a market rotation. There's a long runway of growth ahead for Sezzle and other BNPL operators if they can continue to take market share from credit and debit cards in the massive payments market. The company seems to have found the right mix of user-friendly product features and a lean business model capable of delivering wide profit margins. Investors should expect the company's revenue growth to moderate, but it looks like a good bet to outperform over the long term. Youakim aims for Sezzle to become a daily use app for 70% of Americans. He envisions it becoming something of a super-app with more banking services. That's a bold goal, but the company doesn't have to get to that level for it to be successful. At its current valuation, investors seem to be betting on its growth to moderate soon. If Sezzle can continue to outgrow its peers, however, the stock should be a winner. Should you invest $1,000 in Sezzle right now? Before you buy stock in Sezzle, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Sezzle wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $687,149!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,060,406!* Now, it's worth noting Stock Advisor's total average return is 1,072% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025 Jeremy Bowman has positions in Nvidia, Shopify, and Visa. The Motley Fool has positions in and recommends Block, Nvidia, Palantir Technologies, Sezzle, Shopify, and Visa. The Motley Fool has a disclosure policy. This Stock-Split Stock Is Up More Than 800% in the Last Year. Is It a Still a Buy? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
SBS Australia
6 days ago
- Business
- SBS Australia
'Worrying': Concern as Uber makes new 'flexible' payment move in Australia
Consumer advocate lawyers are concerned about Uber's decision to integrate buy now pay later (BNPL) technology into the app, while the rideshare company says it's being innovative for customers. BNPL platform Afterpay said it's "excited" to pair with Uber. But consumer advocates say allowing people to borrow money for small transactions like Uber rides could contribute to "debt spirals". Consumer Action Law Centre senior policy officer Rose Bruce-Smith told SBS News it's "concerning" that Afterpay is becoming more accessible and is being used more for everyday purchases, when it was previously reserved for discretionary items. "We know that people are optimistic about how much they'll be able to repay in the future. Uber is something that is almost an essential, and we regularly speak to people who can't pay for essentials and get further and further into debt with these services," she said. Afterpay charges users fees if they miss their scheduled repayments, which are up to 25 per cent of the purchase price or $68, whichever is less. Uber told SBS News it is "constantly looking for ways to enhance the experience for everyone who uses the Uber and Uber Eats app, and this includes providing users more flexibility and control over how they pay for their rides and meals". According to a survey by financial comparison site Finder, an estimated 41 per cent of Australians have used BNPL products in the past six months. National Debt Helpline coordinator Vicki Staff told SBS News it's "worrying" that these services are trying to "normalise" their own use, which means people "have the potential to spiral" into compounding debts. "We worry that a lot of people are using buy now, pay later, setting up multiple accounts, and then using it to buy lots of small discretionary type services or products," Staff said. "What we often see as financial counsellors on the National Debt Helpline is all of these direct debits coming out of people's bank accounts to pay for multiple buy now pay later accounts, and people can't keep track of it. And so things start to spiral and they get out of control." Responding to calls to regulate the sector, the federal government last month introduced new laws that require providers to hold an Australian credit licence, comply with existing credit laws, and have also established a new category of low-cost credit under the Credit Act. Afterpay co-founder Nick Molnar said at the time he was glad the services were given "legitimacy" by the government and that he would want to see Afterpay used wherever a credit card is. Bruce-Smith said that ambition was "concerning". "There are checks and balances with a credit card, which is very different from this sort of tech-first approach to integrating your business into every payment system we have. "I think it's pretty disappointing that Afterpay has used the instruction of legislation to use the legitimacy of that to aggressively expand into new areas in Australia." An Afterpay spokesperson said in a statement that the company is committed to giving people "flexible, transparent" ways to manage their spending. "This partnership with Uber — one of the most widely used apps in everyday life — reflects growing demand for safe, simple, and affordable payment alternatives," the spokesperson said. "Afterpay has no fees when customers pay on time, with no risk of revolving debt spirals."
