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How to Buy Afterpay Shares in Australia

Buying shares in Australian Buy Now Pay Later giant Afterpay isn’t as easy as you might think. If you’re looking to buy Afterpay shares you won’t find (ASX: APT), as US payments company Block Inc. acquired Afterpay Limited. Trading in APT was suspended at the close of business on January 19 2022.

Any previous shares in Afterpay Limited changed into shares of Block Inc. (ASX: SQ2).

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In this article, you’ll learn more about the BNPL service Afterpay and how to invest in the newer shares of SQ2.

Table of Contents:

Who Is Afterpay Limited
A Guide to Buy Afterpay Stocks
Final Thoughts
FAQs

Who Is Afterpay Limited? ➡️

AfterPay Limited is an Australian financial technology company known for its buy now, pay later services. The business operates in Australia, New Zealand, the United States, the United Kingdom, and Canada. It was founded in 2014 by Nick Molnar and Anthony Eisen. The company was formerly known as Afterpay Touch Group Limited, but changed its name in November 2019.

Businesses can integrate Afterpay into their online stores so customers can use Afterpay at the checkout. Many online merchants have Afterpay as a payment option on their checkout page. Afterpay allows customers to spread out the cost of a purchase to make it more affordable. Typically, customers choose to split the payment into four interest-free instalments over six weeks.

Looking at historical data, Afterpay share price was $2.68 at the first release in June 2017. Before the acquisition by Blocks in January 2022, Afterpay’s share price was $67.14. Since Block Inc. took over and switched to from APT to from APT, the market cap (as of October 31) is $35.20B, and the share price is $63.275. APT no longer exists, and any shares held before the changeover by shareholders were replaced with SQ2, with the values unchanged.

A Guide to Buy Afterpay Stocks 🛒️

1. Find a Share Trading Platform

The first thing you do when you want to start investing and buying shares in a business is look for which platform sells the shares you want. As Afterpay is an Australian company, you won’t have to look too far if you’re an Australian investor. You can find SQ2 on the Australian Securities Exchange (ASX).

2. Open and Fund Your Brokerage Account

If this is your first time investing, you must open a brokerage account and transfer funds, ready to buy shares. When opening a new brokerage account in Australia, you will need to enter the following information:

Identification: You must prove your identity to open your trading account. You can use your passport, Medicare card or driver’s licence.
Tax details: You must enter your tax details because, like most investments in Australia, you must declare your shares and any profits you make at the end of the tax year.
Contact details: Some trading platforms may require you to add your contact details, like your phone number, as it’s used as an extra level of identification and security.
Bank details: Naturally, you must enter your bank details to transfer funds from one account to the other. You will need to use your everyday bank account, as most credit cards or loan companies don’t allow you to use credit to invest.

3. Buy SQ2 Stock and Decide How Many Shares You Want to Buy

Deciding how many stocks you’d like to invest in is essential. For less risk, diversify your investment portfolio as much as possible and don’t invest all your money into one asset. If the asset sharply declines in price and value, you could lose your whole investment. By having multiple investments, you protect yourself against volatility.

You can still buy many shares if the investment is promising. For example, the current share price (November 1) of SQ2 is $63.275, which is a significant value, but it has seen a recent increase of 4.225% so it could be a promising investment.

4. Check on Your Investment

Once you’ve made your investment, the work does not end there. You now need to monitor your investment portfolio to see if there are any market changes which require you to act. When investing, you should have some form of investment plan and, when you buy or sell shares or other assets, you need to ensure these actions align with your strategy.

Final Thoughts 🤔️

Since the changeover from APT to SQ2, Afterpay’s market cap has increased. It is getting more traction; as of March 2023, orders via Afterpay made by Gen Xers and Boomers increased by 16% and 12% respectively. Afterpay is clearly here to stay and, as we’ve seen its market cap increase over the years, it could be a more promising investment in the long term.

If you’re unsure about investments, or are in need of financial help, always seek out a financial advisor to ease your mind. Remember only to invest what you can afford and are prepared to lose.

Frequently Asked Questions 🔎️

Can You Still Buy APT Shares?

The answer is yes and no. Block Inc. acquired Afterpay Limited in 2022. So, trading in Afterpay shares (APT) was suspended in 2022. Any previous shares in Afterpay Limited changed into shares of Block Inc. (ASX: SQ2). So, you can still buy Afterpay shares, but they’re now branded as SQ2.

Can You Get Afterpay Shares on ASX?

Yes, Afterpay shares can be bought on the Australian Securities Exchange. Since the takeover by Blocks in 2022, some investors have needed clarification on the change in the shares identification code. Afterpay shares used to be APT but changed to SQ2.

How Do I Invest in Afterpay Australia?

As Afterpay is an Australian company, you won’t have to look too far if you’re an Australian investor. You can find SQ2 on the Australian Securities Exchange (ASX). If you don’t have a brokerage account already, you must create one, add funds and purchase your shares.

Where Is Afterpay Available?

AfterPay Limited operates in Australia, New Zealand, the United States, the United Kingdom, and Canada. You can check on a merchant’s page to see if it offers Afterpay at the checkout. Usually, there will be an Afterpay logo next to other payment options.