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SHOP - Shopify Inc News Story

C$1308.36 -14.2  -1.1%

Last Trade - 14/08/20

Sector
Technology
Size
Large Cap
Market Cap £91.93bn
Enterprise Value £88.86bn
Revenue £1.59bn
Position in Universe 1st / 2682

BUZZ-Sezzle extends losses as U.S. buy now, pay later market set to see more competition

Fri 22nd May, 2020 1:32am
** Sezzle Inc  SZL.AX  down as much as 1.9%, extending
losses after Canadian e-commerce firm Shopify Inc  SHOP.TO  said
it would enter the buy now, pay later (BNPL) space later this
year in the United States.
    ** Shares down to A$2.06 after sliding 5.4% on Thursday
following the announcement
    ** Shopify houses a large number of smaller merchants on its
platform and could pose a challenge to existing BNPL firms who
have tied up with many of them
    ** U.S.-based Sezzle is a smaller rival to larger firms
there like Afterpay Ltd  APT.AX  and Sweden's Klarna, which is
backed by Ant Financial and Commonwealth Bank of Australia
 CBA.AX  
    ** Shopify's entry marks the latest to the fast-growing
sector, as it looks to gain a foothold in the largely untapped
U.S. market 

 (Reporting by Nikhil Kurian Nainan)
 ((NikhilKurian.Nainan@thomsonreuters.com; Twitter:
@NikhilKurianN))
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