With the online sales space becoming increasingly competitive (let's face it, all shoppers searching for a generic product compares prices online) websites are looking for any comparable advantage to drive basket sizes and increase overall sales.
Afterpay (ASX:AFY) offers shoppers the ability to purchase and have delivered a product immediately, but pay for the item over 4 equal and interest-free payments. AFY has implemented its offering across sites such as General Pants, House, Optus, and Surfstich and is enjoying incredible demand and customer take-up with underlying monthly sales up 100% already in 2016 (to $5m in April).
AFY pays the merchant upfront, and by using a sophisticated back-end developed by Touchcorp (ASX:TCH), instantly verifies fraud and a customer's payment ability, significantly containing credit risk to AFY.
At $1.32, AFY has performed brilliantly since listing at $1 in early May 2016 and we expect continued growth given the momentum in the business and the sector.
Cyan is making meaningful investments in some of the most promising (and often overlooked) smaller companies listed on the ASX today. Find out how.
Great to have you on board Dean. Some interesting ideas here outside the usual small-cap growth stories that everyone talks about. Well worth a look.