Insights

ANZ (ASX:ANZ) share price flat despite BNPL plans

Here’s why the ANZ share price is rising…
The post ANZ (ASX:ANZ) share price flat despite BNPL plans appeared first on The Motley Fool Australia. –

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price is having a mixed morning on Friday.

In morning trade, the banking giant’s shares are up ever so slightly to $27.83.

This compares to a 0.7% gain by the S&P/ASX 200 Index (ASX: XJO).

Why is the ANZ share price underperforming the ASX 200?

The ANZ share price isn’t the only one in the banking sector underperforming the ASX 200 today.

Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC) shares are actually dropping today despite the market’s solid gains.

This mirrors what happened on Wall Street overnight. Although the Dow and Nasdaq stormed higher, the financial sector acted as a drag on proceedings.

BNPL news

Not even the announcement of plans to take on Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) in the buy now pay later (BNPL) market has been able to boost the ANZ share price higher.

This morning ANZ announced that it will partner with Visa to launch a new feature for credit card customers.

Once it is launched in 2022, the new Visa Instalments feature will provide ANZ credit card customers with an option at the checkout or online to make purchases through interest free instalments across a wide range of terms.

ANZ’s Head of Cards and Personal Lending, Mike Shurlin, said: “We want to provide our customers with flexibility in how they manage their purchases, which is why we are pleased to work with Visa on launching this new feature.”

“We know many of our customers will use this option for certain purchases while choosing a standard credit card transaction for other items. Having that choice with no need for additional steps means they have a simple and secure feature through their existing card.”

“We have partnered with Visa many times in the past and share a focus on building features that make customers’ lives easier while maintaining high security standards,” he concluded.

The ANZ share price is up 21% in 2021.

The post ANZ (ASX:ANZ) share price flat despite BNPL plans appeared first on The Motley Fool Australia.

Should you invest $1,000 in ANZ right now?

Before you consider ANZ, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and ANZ wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

What to expect from the ANZ (ASX:ANZ) FY 2021 result this month
What happened for the ANZ share price in the FY22 first quarter?

ASX 200 bank shares fall flat amid flurry of new regulations

Why the ANZ (ASX:ANZ) share price has lagged the ASX 200
5 things to watch on the ASX 200 on Monday

Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!