The S&P/ASX 200 Index (ASX: XJO) went up by 1.88% today as investors continued to push ASX 200 shares higher.
Here are some of the movers and shakers from the ASX today:
Afterpay Ltd (ASX: APT) announces digital wallet links
Today, the buy now pay later business announced that its customers can now use both Apple Pay and Google Pay in physical stores in the US.
Some of the businesses that now offer both Apple Pay and Google Pay in-store in the US are: Forever21, Fresh and Solstice Sunglasses.
July 2020 is actually the first month where customers can start using the ASX 200 share's service in physical stores.
Afterpay CEO and co-founder Nick Molnar said:
"As we enter the second half of the year and retail re-emerges across the world, it's critical we help our partners drive business growth, both online and offline.
"As a proven solution for driving incremental sales and new customer growth, we are thrilled to introduce our new omni-channel solution to US retailers as they begin to open their doors and bring shoppers back to their physical stores."
In reaction to this announcement, the Afterpay share price ended the day higher by 2.4%.
Zip Co Ltd (ASX: Z1P) share price sold off by 6.7%
The second largest buy now, pay later operator on the ASX released its FY20 fourth quarter trading update today.
It said that in FY20 it achieved full year revenue of $161.2 million, which was up 91% compared to FY19. Its quarterly revenue was $46.4 million, up 72% year on year.
The FY20 annualised transaction volume was $2.3 billion, which beat its target of $2.2 billion. It achieved record quarterly volume of $570.7 million, which was 62% higher year on year.
Receivables increased to $1.2 billion, this was growth of 73% year on year.
Customer numbers increased by 63% year on year to 2.1 million whilst merchant numbers rose by 51% year on year to 24,500.
Zip boasted of a strong credit performance with net bad debts of 2.24% at 30 June 2020. Monthly arrears, which is seen as an indicator of future losses, reduced from 1.55% in March to 1.33% in June.
Zip's acquisition, QuadPay, also had a good final quarter. Quadpay achieved quarterly total transaction value (TTV) of $233 million, $16.4 million in revenue and 1.8 million customers.
ELMO Software Ltd (ASX: ELO) quarterly update
Software business Elmo released its quarterly update today. The Elmo share price went up by 2.8%.
The fourth quarter saw cash receipts of $16.8 million, up 26.2% on the previous quarter and a rise of 8.4% compared to the prior corresponding period.
For the whole of FY20 the ASX share achieved cash receipts of $57.5 million, up 27.4% compared to FY19.
It finished the quarter with a closing cash balance of $139.9 million. It recently launched a new module called ELMO Connect, a new communications module for instant messaging and Zoom conference calls.
Australian Ethical Investment Limited (ASX: AEF) funds under management
The ethical fund manager announced its funds under management (FUM) at 30 June 2020 today.
Australian Ethical said its FUM grew by 18.6% over FY20 to $4.05 billion. Over the whole of FY20 it saw net inflows of $660 million.
During the final quarter of FY20 it experienced $120 million of net inflows. The quarterly increase of FUM by 12.9% was driven by the net inflows and "strong" investment performance and included $0.04 billion of outflows following the federal government's changes to early release of superannuation conditions.
The Australian Ethical share price was almost flat, it fell by 0.2% today.
