Australian Fintech start-up Afterpay extends reach with BigCommerce deal

Australian Fintech start-up Afterpay has reached a deal with BigCommerce to bring its buy now, pay later short term loan payment solution to BigCommerce customers.

BigCommerce, which also was an Australian start-up, but now has its headquarters in Austin, TX, has over 5,000 active eSellers in Australia. This deal has all the markings of becoming part of a global strategy for Afterpay.

“BigCommerce is the most requested platform from merchant inbound reverse inquiries, so we are delighted to shortly be able to offer the Afterpay service to this important and growing retailer base,” Managing Director of Afterpay, Mr. Molnar said.

Mr. Molnar also noted that BigCommerce was an example of how Australian innovation can successfully go global.

While there was no announcement about expansion beyond Australia, the fact that BigCommerce has over 100,000 active eSellers globally should make their much larger non-Australian customer base a very interesting growth opportunity for Afterpay.

And in the United States BigCommerce competes against Shopify, which already offers integrated payment solutions, so there is a win/win for both companies by expanding the service beyond Australia.

This collaboration will shortly see the Afterpay payment solution incorporated into the core of the BigCommerce platform and become available to all its Australian customers.

“BigCommerce is excited to offer Afterpay’s customer centric installment payment model to our Australian retailers,” BigCommerce’s Senior Vice President of corporate development, Russell Klein said.

With so many players entering the consumer start-up Fintech market in various ways, it will be interesting to watch how larger players like Paypal and Google will adjust to these niche ideas of payment solutions.

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