In the Media

Banks continue to challenge BNPL providers

Investor Daily - 15 Nov. 21

With major banks fully embracing the appeal of buy now, pay later apps, the pressure is on. Wealth Within chief analyst Dale Gillham said that while the war between Australia’s biggest banks and buy now, pay later operators is heating up, it’s been something of a slow burn. “The big four banks are good at sitting back and watching others take the risk to develop a market before entering, and this is very much what they have done in the BNPL space,” he said... 

Big Banks vs BNPL: What Happens Next?

nestegg.com.au - 15 Nov. 21

With major banks fully embracing the appeal of Buy Now, Pay Later apps, the pressure is on. Wealth Within chief analyst Dale Gillham said that while the war between Australia’s biggest banks and Buy Now, Pay Later operators is heating up, it’s been something of a slow burn. “The big four banks are good at sitting back and watching others take the risk to develop a market before entering, and this is very much what they have done in the BNPL space,” he said. Recent months have seen more and more traditional Australian banks put their own spin on zero-interest and instalment-based credit. Two weeks ago, Westpac joined CBA in offering a zero-interest credit card aimed squarely at the same marketplace as Afterpay...

The ASX Rides Higher as a New Payment Service Gets Ready to Hit the Boards

Proactive Investors New - 12 Nov. 21

"The war between the big four banks and the buy now pay later (BNPL) space heated up this week as Afterpay released its new money app, which is targeting Gen Z and millennials, and is another step forward in Afterpay becoming more like a bank." said Dale Gillham founder of wealth management firm Wealth Within. "The obivious winner in all of this will be the consumer, as more competition means lower prices, better services and and better products. Right now, while some of the stock prices for the BNPL providers are not doing very well, I would still watch this space given that in 2022 it is likely we will see some nice movement, espeically with the larger providers." he said...

Afterpay Launches Money App, Bank Accounts and Retroactive BNPL

nestegg.com.au - 10 Nov. 21

The launch of Money comes several months after it was announced that payments processing company Square would be acquiring Afterpay for $39 billion in stock. Speaking to nestegg earlier this year, Wealth Within chief analyst Dale Gillham said that the move towards more traditional banking services would likely be an uphill battle for Afterpay. “While the big four banks dominate the banking sector in Australia, many new entrants have tried to break their stranglehold, so it will be interesting to see if Afterpay can make any inroads,” he said. Mr Gillham said that with the move into banking, Afterpay would invite new regulation and scrutiny. In order to survive these new challenges, he argued that Afterpay would have to mature and prove “they are not just a good company but a great company...

CBA Debut in Crypto World Adds 'Respectability' to Sector

Savings.com.au - 01 Nov. 21

New data shows Aussie Millennials are keen on crypto and don't expect to change their minds anytime soon. Earlier this week, CBA announced it will offer crypto trading on their Commbank app. Chief Analyst of financial services company Wealth Within, Dale Gillham, said this move by the major bank, adds respectability to the previously considered 'risky' market. "Until recently, trading cryptocurrencies was considered very high risk, as it was largely unregulated, which encouraged dodgy practices by some providers," Mr Gillham said. "However, the news this week by CBA and the intentions of ASIC to regulate this market does add some respectability, which I believe will reduce some of the risks Australians have been subjected to when trading cryptocurrencies...