Afterpay (ASX:APT) share price under pressure by US BNPL giant // Motley Fool Australia

US buy now, pay later (BNPL) giant Affirm plans to enter the Australian market, according to rumours reported by the Australian Financial Review. This comes as market leader Afterpay Ltd (ASX: APT) reveals strategies to return more value to merchants.  The Afterpay share price is already down by 6.68% since Monday after a report from the Australian Securities and Investments Commission (ASIC).

Affirm is a privately owned US BNPL company. Its CEO and co-founder is Max Levchin, who also co-founded Paypal Holdings Inc (NASDAQ: PYPL). At present, Affirm is the largest BNPL company in the United States by monthly active users. Where Afterpay leads in total US users, and Sezzle Inc (ASX: SZL) leads in total US merchants, the US giant…