Briefs: Afterpay expands in NZ, AMP under review, Wisr results 30 April 2021 6:30AM Banking Day staff Briefs, Payments, mobile & wallets, AMP Bank, Moody's, Ratings agencies, Fintech, Consumer lending Buy Now Pay Later company Afterpay is expanding into New Zealand via a payment card program. It will be delivered by ASX-listed neobank aspirant Novatti in a partnership that will see Novatti further monetise its existing licence with Visa. Novatti said the deal would allow Afterpay customers to access branded cards in their digital wallet for use at participating merchants across New Zealand. Novatti will receive project setup, monthly recurring and transaction-based fees, depending on service take-up. Moody's Investors Service is maintaining its review for downgrade of AMP Group Holdings, AMP Group Finance Services and AMP Bank in the wake of the group's announcement of a planned demerger of its infrastructure equity, infrastructure debt and real estate businesses. If executed "it would bring significant changes to AMP's business mix [through a reduction in the group's business diversification, financial flexibility and profitability]," Moody's said. Consequently, AMP Bank's adjusted baseline credit assessment, long-term issuer and backed domestic senior unsecured ratings are on review reflecting the potential for a reduction in affiliate support from AMP Group Holdings, which provides a guarantee from AMP Bank. Self-described "neo lender" Wisr earned revenue of A$7.5 million for Q3FY21, a 275 per cent increase over the previous comparable quarter and a 27 per cent increase on revenue of A$5.9 million earned in Q2FY21. The company said it was "strongly capitalised" with $35.5 million in cash and liquid loan assets as at 31 March 2021. In addition to these assets, Wisr has executed a term sheet for the issuance of a $21.5m unsecured corporate loan facility, subject to finalisation of legal documentation.