♪
>> HAPPY FRIDAY AND WELCOME
BACK BETWEEN DOLLS.
>> EYEING A NEW FALL WORD ROBOT
DON'T HAVE THE
EXTRA CASH. THERE'S NO PAYMENT
PLATFORM AFTER BAY AS LETTING
SHOPPERS BUY NOW AND PAY LATER
A POPULAR RETAIL SITES LIKE
URBAN OUTFITTERS OLD THE BEAUTY
AND THE
S W THE COMPANY ANNOUNCED ITS
2019 RESULTS WITH SALES
INCREASING THE $5.2 BILLION A
4.6 MILLION ACTIVE CUSTOMER
SEES HIM A PLATFORM TO US NOW
TO DISCUSS FURTHER IS ANTHONY
EYES AND CO-FOUNDER OF GLOBAL
OF AFTER PAY ANTHONY THANKS FOR
JOINING. THANKS FOR HAVING ME
SO IT SEEMS LIKE A PRETTY
SIMPLE CONCEPT BUY NOW PAY
LATER, BUT HOW DOES THIS WORK
FOR
THESE ARE.
>> IT REALLY WORKS TOTALLY FOR
THE USER AND NOT LIKE A FINANCE
COMPANY WHATSOEVER SO
MILLENNIALS BUT LOTS
OF PEOPLE. MORE AND MORE DON'T
WANT TO USE CREDIT FOR JUST
LIVING AND THE THINGS THAT THEY
NATO THEY WANT
THEIR LIFESTYLE. SO THE REALLY
GREAT THING ABOUT OFF TO PAY IT
LETS YOU BUY NOW AND PAY ME
INSTALLMENTS WITHOUT PAYING
ANYTHING EXTRA FOR THE GOOD OF
THE SERVICES YOU NEED TO
GET SO IT'S REALLY REALLY
SIMPLE YOU DON'T PAY ANY EXTRA.
IT'S FULL PAYMENTS EVERY 2
WEEKS AND THAT'S IT YOU HAVE TO
ABIDE BY THE RULES WHICH IS
MAKE THE PAYMENTS IF YOU WANT
TO USE IT AGAIN. BUT IT'S
REALLY SIMPLE.
>> REALLY CONVENIENT AND THOSE
4 PAYMENTS ARE BASED ON WHAT
THE PRICE OF THE ACTUAL EYE.
ABSOLUTELY YOU DON'T PAY
ANYTHING EXTRA. THE IT'S REALLY
CLEAR SO IF YOU'RE BUYING A
JACKET FOR WORK AND IT'S A $100
AS FOR PAYMENTS OF $25 EVERY 2
WEEKS.
>> ARE YOU ACCOUNTING FOR THE
RISK OF PEOPLE NOT BEING ABLE
TO PAY OFF EVERYTHING THAT OF
WHAT
THEY PURCHASED.
>> WELL THAT'S A LOT ABOUT WHAT
WE DEVELOPED IS A TECHNOLOGY.
EVEN BEFORE WE
WE DO ALL OF THE ASSESSMENT IN
REAL TIME WHILE SOMEBODY IS
WARNING TO MAKE THAT PURCHASE
SO WE DON'T ALLY A
WHEN THEY WANT TO BUY SOMETHING
THERE'S NO APPLICATION FORMS TO
FILL OUT IT'S REALLY
REALLY SIMPLE. WE TAKE ON ALL
THE RISK SO IF A CUSTOMER
DOESN'T HIGH-SPEC IT'S OUR IS
SO WE PAY
THE RETAILER UP FRONT. BUT WHAT
WE FOUND IS THAT BECAUSE ALL OF
A TECHNOLOGY. AND THE VERY WHY
THE PRODUCT A LOSS IS
A REALLY LOT AND CUSTOMERS WANT
TO DO THE RIGHT THING BECAUSE
IF YOU DO THE RIGHT THING AND
YOU
PAY BACK YOU'RE INSTALLMENTS
THAT SEE ON THE BASIS WHERE YOU
CAN USE A SERVICE AGAIN SO IT
DOESN'T OPERATE AT ALL LIKE A
CREDIT CARD YOU CAN KICK THE
CAN DOWN ALL RIGHT AND JUST
SORT OF PIE WHEN YOU WANT TO
YOUR BUDGETING FOR DISCRETE
ITEMS IN
FOR PAYMENTS AND AS LONG AS
THAT HAPPENS AND YOU CAN
CONTINUE TO USE OUR SERVICE.
>> THE ONLY REPERCUSSION MEANT
FOR CUSTOMERS IF THEY DON'T
FULFILL THE PAYMENTS AS THEY
CAN'T USE AFTER PAIR
FOR AGAIN, CORRECT AND AS ERIC
WORKED IN DETERRING PEOPLE FROM
FRAUDULENT BEHAVIOR.
>> IF YOU LOOK AT
THE STATISTICS WE'VE PRODUCED
SOME OF THE LOWEST LOSSES FROM
ANY COMPARABLE. COMPANY THAT
YOU MIGHT WANT TO MEASURE US
AGAINST A LOSS IS A REALLY
REALLY LOW. AND THEY'VE BEEN
COMING DOWN AS WE'VE BEEN
GROWING BECAUSE WE GET TO LEARN
A LOT MORE ABOUT PEOPLE AND THE
RETAIL ENVIRONMENT.
>> WHAT PERCENTAGE DO YOU GUYS
GET OUT OF THIS SO LET'S JUST
SAY THE JACKET IS A $100 AND
THE CAN SEE ADDING THOSE FOR
PAYMENTS OF $25 HOW DO YOU GUYS
GET MONEY OUT OF THAT SO THE
REAL.
>> BIG DIFFERENCE TO OUR MODEL
IS THAT WE CHARGE THE
RETIREMENT INSTEAD OF
THE CUSTOMER. SO ON AVERAGE
ALFIE'S TO
RETAILERS ARE AROUND 4% IF YOU
HAVE A LOOK AT OUR PUBLIC
FILINGS ET BUT THE KEY THING IS
WE PARTNER WITH
GREAT HOW AS OPPOSED TO SELL A
PRODUCT TO THE CONSUMER REALLY
GREAT RETAILERS WANT TO GIVE
CUSTOMERS A
FABULOUS SERVICE. SO UNLIKE
TRADITIONAL CREDIT WHICH
IS ABOUT SOMEBODY BUYING A
PRODUCT OFF THE PIES SERVICES
WE COLLABORATE WITH GREAT I WAS
SO WE GIVE CUSTOMERS A REALLY
GREAT EXPERIENCE WHAT THE RATE
HIGHLY GETS IN RETURN IS
FANTASTIC CUSTOMER LOYALTY
AND GENERALLY CUSTOMERS BUY
MORE BECAUSE I CAN AFFORD TO DO
IT IN A BUDGETING STYLE.
SO YOU KNOW THAT'S THE WAY THAT
WE'VE TURNED WHAT IS A
TRADITIONAL MODEL ON ITS HEAD.
>> THE SCENE SUCCESS THUS FAR
AS CONVERSION INCREASE FOR
THESE RETAILERS BUT IS THAT.
>> OFTEN YOU HAVE A VERY VERY
SIGNIFICANTLY.
CONVERSIONS INCREASED A LOT AND
AVERAGE ORDER VALUE WHICH IS
BASKET SIZE HAS INCREASED A
THE OTHER AREA WHERE WE WERE
WITH RAY TYLER'S IS THEY REALLY
WANT TO APPEAL TO PARTICULARLY
THE MILLENNIAL CUSTOMER THAT'S
VERY HARD TO RATE TRIED THAT I
GOT FOR GIMMICKS AND THOSE
SORTS OF THINGS
SO BECAUSE OFF THE PIES A
TRUSTED SERVICE, IT'S ALL ABOUT
TRUST. SIMPLICITY AND
TRANSPARENCY. WE WORK WITH
RETAILERS SO THEY CAN ACCESS
A MUCH LARGER A LARGER
AUDIENCE, WE HAVE EITHER
5 MILLION SUBSCRIBERS NOW.
>> YOU WORK WITH RETAILERS ON
THE USER EXPERIENCE ITSELF SO
THAT YOU'RE HIGHLIGHTING UP
FRONT SAID AFTER
HIS AVAILABLE SEAT ON TO WAIT
UNTIL THE END OF CHECK OUT TO
KNOW THAT THIS
IS AVAILABLE.
>> YEAH, SO IF YOU LOOK AT SOME
ABOUT RIGHT RETAILERS IN THE
STATES LIKE I'VE BEEN OUT THAT
LEVI'S YOU'LL SEE WHEN THE
PRODUCTS DISPLAYED AND AN 8TH
THE PRICE OF THE PRODUCT PAGE
IT SAYS WHAT THE OFT UP I OFFER
IS SO IF THE JACKETS A
$100 ON THE PRODUCT PAGE ON THE
NASCENT SIZZLE FOR PAYMENTS OF
$25 WITHOUT