With no news out about Afterpay it appears as if a recent string of new customer sign-ups is giving investors confidence on the company’s growth prospects.
Afterpay offers shoppers flexibility to pay for products or services using “simple, interest-free instalment plans, available instantly at retail stores – either online, on mobile, or in-store.”.
The company announced in late September that it would partner with Wesfarmers Ltd (ASX: WES) to offer Afterpay to Target customers as an additional payment option via the Target website.
This followed another recent update that Jetstar would also be joining its growing list of customers. Jetstar customers now have the option of using Afterpay to book and pay for flights within the value of $200 to $1,000 when purchased a minimum of eight weeks prior to departure.
If the company can continue to sign-up notable clients such as these then I believe there will be plenty more growth to come.
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Motley Fool contributor Tim Wilks has no financial interest in any company mentioned. The Motley Fool Australia owns shares in Wesfarmers. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.