Apple’s instalment payment plan pushes competitors’ shares down

The Apple logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, the US. Picture: REUTERS/MIKE SEGAR

Shares of Australia-listed Afterpay, the country's biggest BNPL provider, slid close to 10% in Wednesday trading. Smaller rival Zip Co and Sezzle also fell sharply. Nasdaq-listed Affirm Holdings tumbled more than 14% on Tuesday before closing down 10.5%. The prospect of going up against a company the size of Apple, as well as other likely entrants, would pose a major test to pure-play BNPL firms which have so far gone relatively unchallenged.

Source: Loan Digest (loandigest.net)

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