Chinese Afterpay Investor is ‘Glorified Surveillance Arm’ of Communist Regime: US Senator

An Afterpay sign at a retail outlet at a Westfields shopping center in Sydney, Australia, on May 5, 2020. Daniel Teng/The Epoch Times

Chinese technology giant Tencent has bought a 5 percent stake in Melbourne-based Afterpay as it contends in U.S. markets with a push to ban Beijing-backed software from being used by U.S. officials.

The announcement came on May 1 with Tencent Holdings paying around $300 million (US$192.8 million) for its stake in Afterpay.