Quote Originally Posted by trader_jackson View Post
Agree with all your points... but what if I told you there were 5 afterpays all gunning for the same end user (the customer using their debit, credit, what ever card) and merchants don't care about loyalty with any one provider so end up going with multiple/all of them? (given the technology these days is there to accept all of them - they are all basically the same)
APT started first, doesn't mean it'll finish first.
For Merchants, they only have the resources/inclination to integrate the top few providers. In-store integrations are costly, and involve training staff. Likewise consumers don't want the hassle of signing up to multiple services. They'll stick with the one or two major ones, which they trust, and many shop exclusively at only Merchants that provide them.

For online shopping there is only so much real estate available through the checkout pages. The majority of online product pages in Australia have an Afterpay logo displayed predominantly on them.

The larger transaction volume (GMV/TMV) processed through the top few providers, will compound their ability to detect fraud & build a trusted list of low risk customers. This will mean they can keep Merchant fees more competitive than lesser known 'interest-free' providers.

Most merchants are also extremely conscious of providing a responsible service to their customers, and not laden them with debt & fees, or a poor experience.

Afterpay has won Australia, with Zip second. The rest are just picking the scraps. I don't see this changing, the brand awareness for Afterpay is equivalent to an Uber, or Airbnb. Walk through a Westfield in Australia and it's Afterpay signs as far as the eye can see. Consumers are happy, why change?

New Zealand is Afterpay and Laybuy.

For large ticket items (>$1500) over longer installment periods, it's an entirely different game, one which Afterpay/Laybuy doesn't play in.