The one and only secret to total wellness is to live each moment to the fullest.

Since practically everyone connects the term ‘wellness’ with the human body, it’s time to shift the focus - we’ll concentrate on financial wellness.

Many people wish to buy things without spending their last dollar - which isn’t always the case. However, there is someone who can help people buy the items they’ve placed in their virtual shopping cart while also allowing them to maintain financial wellness - we’re referring to Afterpay!

‘Buy now, pay later’ used to be unthinkable for many people, but not any longer - the idea of turning spiraling debts into spiraling benefits is being brought to life by Anthony Eisen and Nick Molnar.

The story behind AfterPay is one about two neighbors getting an idea that will benefit numerous businesses and people worldwide.

Stick around to hear how Anthony and Nick came up with a fresh, millennial-friendly idea.

A Winning Combination

AfterPay was established in 2014 in Melbourne, Victoria, Australia, and there’s a fascinating backstory.

It all started with two neighbors' desire to reform the payment system in order to achieve financial wellness.

Nick Molnar graduated from the University of Sydney with a Bachelor’s degree in commerce. Even before his graduation, it has been evident that he has a bright career ahead of him - one that will alter many people’s lives.

Nick began selling jewelry while still in school and quickly realized how to build a successful online business - he launched the leading online jeweler Ice.com in Australia which has successfully developed to become Australia’s largest online jewelry shop.

Anthony Eisen, like Nick, holds a Bachelor’s degree in commerce and has a lot of experience under his belt.

Nick was a noteworthy shareholder in a variety of financial services and software companies. He served as a Chief Investment Officer at Guinness Peat Group and worked in investment banking in the United States and Australia for a long time.

The combination of these two seasoned neighbors resulted in the birth of something significant - AfterPay.

Gearing up the Machine

It all began when two neighbors, Anthony Eisen and Nick Molnar, decided to join forces. They recognized the potential in one another, which transformed them from neighbors to business partners.

After forming a working connection, the two created Innovative Payments in 2014, which grew into the AfterPay we know today.

Nick and Anthony devised a novelty in the e-commerce business, a deferred payment option that would tax business for sales rather than customers for repayments. All the customers can share the money of a purchase over four equal installments using the ‘buy now, pay later’ approach while participating businesses pay a minuscule commission.

After its inception in 2014, it wasn't long before the company quickly expanded. The equal installments approach appealed to cash-strapped customers, while shops that were eager to improve sales were willing to pay a nominal charge to join the network.

In 2015, the Princess Polly fashion group became their first retail customer as a result of their dedication and motivation. Since then, they’ve collaborated with a slew of firms and celebrities, including Kim Kardashian.

It took a long time to build Australia’s most powerful machine of wealth, but they did it piece by piece.

Overcoming a Storm

At AfterPay, the weather wasn’t always sunny, especially with clouds like PayPal, Klarna, Zip, Splitit, and more floating around the business air. Despite the fierce competitors, AfterPay managed to ascend to the top of the market with its unique offerings.

Customers can get the goods they desire while still maintaining financial wellness by breaking payments into four equal installments - which is something that other payment options don’t offer very often.

Apart from that, customers also faced difficulties as a result of technological advancements, as many individuals refused to use credit cards while shopping. However, featuring a smart strategy and novel services, even individuals who were using nothing but cash to pay began to use AfterPay.

Today, AfterPay boasts millions of users worldwide and is available at many of the world’s greatest stores, including DSW, Anthropologie, Finish Line, Ray-Ban, and many more.

Shaping Up the Finances

Within the first two years of its existence, AfterPay was able to raise a not-so-shabby sum of $25 million in an IPO.

Following that, the company’s finances skyrocketed! Kim Kardashian -the reality star and mega-influencer turned to Twitter to announce that their sites accept AfterPay. Thanks to this shout-out, we can only imagine the ways AfterPay’s popularity grew.

The stock price rose 1.300% from $8 per share in March 2020 to a peak of $105 in November.

In May, Tencent, a Chinese internet titan, paid more than $200 million for a 5% share in the company. As a result, AfterPay became one of Australia’s hottest stocks.

The company’s sales nearly doubled to $382 million in 2020, while losses nearly halved to $16.8 million.

Nick and Anthony’s company is continually involved in IPOs and has raised a staggering total of $448.7 million in capital over three rounds - the most recent of which occurred in August of 2020.

Overall, AfterPay has turned into a rock-solid business with nothing short of a promising future ahead.

Positive Outlook on the Future and Global Growth

Driven by innovation and success, Nick and Anthony’s company tends to give only the finest to its clients. Customers may obtain what they need and want both online and in stores and pay over the course of six weeks. AfterPay has served over 16 million people so far and expects to serve many more.

The company is concentrating on growing abroad in order to accelerate its growth. The United States, the United Kingdom, and Europe are all important objectives in this regard.

Offering its services in over 85.000 stores, AfterPay is nurturing ambitions to partner with many more in the future. The company’s spokesperson states that the retailers’ popularity and overall generosity will only grow, and from what we’ve seen so far, we can’t argue with such a statement.

On average, AfterPay has an approval rate of 90% of customers to shop using AfterPay’s services, and it’s expected that number will rise even more.

What is apparent is that Nick and Anthony will achieve their goals thanks to their dedication and motivation. In the future, we may expect to witness global expansion and more satisfied customers.

A New Payment Method Is on the Way

Thanks to Nick Molnar and Anthony Eisen, the world witnessed something previously thought to be impossible - people are able to purchase the items they have wishlisted without having to pay the entire amount up front.

People can shop online or in stores using AfterPay and pay for their items over a six-week period in installments. AfterPay’s clients can purchase items from more than 100.000 merchants all around the world while not losing grip on their financial well-being.

Holding a head office in Southbank and other offices in San Francisco, the company employs more than 1.000 people - all with the goal of getting consumers to buy what they want without having to spend their last dime.

Furthermore, AfterPay is consistently growing, and based on its financials, everyone can be confident that the company is operating at full capacity. Nick and Anthony’s company has enormous plans for the future, including partnering with many more stores and bringing in even more customers. Overall, it seems like the future is anything but bright for the neighbors-turned-business partners.

The less you know the more you pay, and now that you know that AfterPay brings financial wellness to all people, you will undoubtedly pay less - simply since you know more!