Following in the wake of last week’s A$39 billion purchase of Afterpay by Square, Roy Morgan Research has released a new survey showing the growing awareness of buy now, pay later services:
Awareness of buy-now-pay-later services is now at 75.5% and has overtaken that of traditional online payment platforms (74.5%) such as PayPal, Visa, Western Union and masterpass for the first time.
Afterpay is the clear market leader with nearly three-quarters of Australians, 73.4%, aware of the service in the year to June 2021, up 3.4% points since February 2021, and up 39.6% points since September 2018.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
