The Afterpay Ltd (ASX:APT) share price on watch after launch in France, Spain and Italy

The Afterpay Ltd (ASX: APT) share price is on watch after its services went live in France, Spain and Italy

| More on:
fintech asx share price represented by person using smart phone to pay at checkout

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Afterpay Ltd (ASX: APT) share price is on watch today. This comes after its official launch in Southern Europe with merchants in France, Spain, and Italy. While Afterpay has yet to release an announcement on the ASX, co-founder and Co-CEO Nick Molnar confirmed the launch this morning

At the time of writing, the Afterpay share price is trading at $111.30, up 2.74%. 

Clearpay to bring the Afterpay share price to Europe 

Afterpay previously announced the completion of its Pagantis acquisition on 10 March. It hinted that Spain, France, and Italy would be the first countries to go live through its subsidiary, Clearpay. The company's commentary cited that these three countries combined have an addressable e-commerce market that exceeds 150 billion euros. 

In Afterpay's half-year results presentation, the company highlights buy-now-pay-later (BNPL) as an emerging participant in the $9.4 trillion global retail market. By geography, North America, the European Union, the UK, and ANZ represent a respective 60.5%, 27.5%, 7.5%, and 4.5% of the global retail market. The presentation also noted Afterpay had over a $1 billion pipeline of global merchants in process of contracting for the EU. 

With the green light obtained from the Bank of Spain, Afterpay now has the ability to provide its products to a broader market. This includes Germany and Portugal, alongside its launch in France, Spain, and Italy today. 

Comments from the CEO

Nick Molnar further commented on the recent growth in e-commerce and entry into Europe: 

In the last year, global ecommerce grew faster than it had in the last ten years. By introducing Clearpay, we are giving Europeans a better way to access the things they want and need in their lives via a flexible payment service that allows shoppers to spend their own money and pay over time – instead of turning to expensive loans and credit cards which come with interest, fees and revolving debt.

Afterpay has taken the first-mover advantage into the EU. This puts it ahead of ASX-listed BNPL rivals such as Zip Co Ltd (ASX: Z1P) and Sezzle Inc (ASX: SZL). Zip currently has two minority investments providing the company leverage into the United Arab Emirates, Czechia, and Poland.  

The Afterpay share price has pushed higher this afternoon and is currently 2.85% higher at the time of writing. 

Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Sezzle Inc. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A golfer celebrates a good shot at the tee, indicating success.
Share Market News

Here are the top 10 ASX 200 shares today

ASX investors finally enjoyed a win this Thursday...

Read more »

a man sits back from his laptop computer with both hands behind his head feeling happy to see the Brambles share price moving significantly higher today
Industrials Shares

Up 39% in a year, is there more growth to come for this ASX 200 share?

IML Equity Analyst Josh Freiman shares his views on a major ASX 200 industrial stock.

Read more »

Man looking at his grocery receipt, symbolising inflation.
Share Market News

What the latest US inflation print means for ASX 200 investors

The ASX 200 is likely to benefit if the US Fed cuts interest rates again in December. But will it?

Read more »

guy helping girl invest in shares and dividends
Opinions

5 ways for investors buying ASX shares to stay focused during economic uncertainty

AMP Chief Economist, Dr Shane Oliver, offers advice on how to handle the Trump factor.

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why Graincorp, Light & Wonder, Orica, and Wildcat shares are falling today

These shares are having a tough time on Thursday. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Catapult, Flight Centre, Nufarm, and Xero shares are storming higher today

These shares are having a strong session on Thursday. But why? Let's find out.

Read more »

A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares
Opinions

1 ASX growth stock down 30% I'd buy right now

This international business is growing core earnings at a strong rate.

Read more »

Concept image of a man in a suit with his chest on fire.
Record Highs

How long can the CBA share price keep this up?

Australia's biggest bank is running hot. Does it make any sense?

Read more »