Two players are in the Buy Now, Pay Later segment: Afterpay (AFTPY), and Affirm (AFRM). They are part of an expanding market which is helping them grow their revenue and earnings rapidly. At current stock prices, which is better to invest in? Continue reading to find out the answers. Over the years companies have worked to transform the way that consumers shop. While credit cards have facilitated consumers’ ability to purchase products with debt, several entities have launched affordable payment services via the Buy Now, Pay Later, or BNPL model. Because these services can be used to allow customers purchase larger or more costly items, and they can reduce the price of lower-ticket items, the COVID-19 crisis has encouraged the rapid adoption of BNPL.
Allied Market Research published a report estimating that the global BNPL market would reach $3.98 trillion in 2030. This is an increase of $90.69 billion for 2020. It also indicates a 45.7% annual growth rate over this time period.
Given the rapid growth in the BNPL space, let’s evaluate which company, Affirm (AFRM) or Afterpay (AFTPY), is the better stock to buy right now.
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