The Afterpay Ltd (ASX: APT) share price will be on watch this morning after the release of a business update.

What did Afterpay announce?

This morning the payments company announced that there are now more than five million active customers in the United States using its buy now pay later service.

Furthermore, in total there are nearly nine million U.S. consumers who have joined the platform since its launch two years ago. This includes more than one million new customers using the platform during the COVID- 19 period of the last ten weeks.

According to the release, this represents a 30-40% increase in the weekly run rate from January and February.

In addition to this, the company revealed that more than 15,000 brands and retailers are offering, or in the process of offering Afterpay to their customers.

New merchants include A.L.C., AE/Aerie, American Eagle, Birkenstock, Furla, Herschel, Lancer Skincare, Marc Jacobs Beauty, Perricone MD, Soko Glam and The Hut Group, Tilly’s, and YSL Beauty.

This led to the Afterpay app having more than 15 million app and site visits during April, with Afterpay’s U.S. Shop Directory contributing nearly 10 million lead referrals to its retail partners.

Nick Molnar, co-founder and U.S. CEO of Afterpay, commented: “At a time in which ecommerce has become the primary way people are shopping, there is a growing interest and demand among consumers to pay for things they want and need over time using their own money – instead of turning to expensive loans with interest, fees or revolving debt.”

 “We feel so grateful to partner with the merchant community to support their shoppers and help them attract more customers, as commerce and retail starts to rebound over the next several months,” he added.

No update was provided on the ANZ or UK businesses.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The Wesfarmers Ltd (ASX: WES) share price has fallen 5.99% lower in 2020, but is the Aussie conglomerate in the buy zone?

Why the Wesfarmers share price has slumped lower

Normally a year to date share price fall of 5.99% wouldn’t be considered a good thing. However, the S&P/ASX 200 Index (ASX: XJO) has slumped 16.62% over the same period which means the group’s shares have actually outperformed in 2020.

Investors are struggling to value many businesses in the current climate and the Wesfarmers share price is tough to evaluate at the best of times. The company has interests in a wide range of industries and sectors including retail, mining and chemicals.

Investors are clearly pricing in a potentially negative impact on earnings from COVID-19 in 2020. I think one of the hardest-hit areas of the business could be the group’s retail arm which includes brands like Kmart and Target.

However, I think the Wesfarmers share price could currently be undervalued and here are a few reasons why…

Wesfarmers has a lot of cash right now

Wesfarmers has been sitting on a big pile of cash for years. How big? The group’s FY 2019 annual report from August 2019 suggests it’s a $795 million pile. This could swell even larger in 2020 after the $1.1 billion sale of another part of its stake in Coles Group Ltd (ASX: COL).

That’s good news for shareholders and the Wesfarmers share price in the current environment. Cash is king right now and Wesfarmers has plenty. On top of that, it could be well-placed to pounce on any undervalued companies targeted for acquisition.

The conglomerate is always looking for efficiency

Despite some potential business challenges, Wesfarmers is always looking to improve efficiencies. The group recently flagged closures for underperforming Target stores and sold off its remaining coal mining interest in December 2018.

These improvements in efficiency could be good news for the Wesfarmers share price in 2020. If the business uses the current climate to continue re-aligning its strategy, earnings could be more stable than many investors expect.

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Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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Some exchange-traded funds (ETFs) offer high growth for investors despite the coronavirus.

I like how cheap some ETFs out there are such as BetaShares Australia 200 ETF (ASX: A200) and Vanguard U.S. Total Market Shares Index ETF (ASX: VTS).

The ASX does have some impressive growth companies, but they’re not the largest positions within the ASX 200. The biggest businesses in Australia are mature businesses in slow growth industries.

I think these two ETFs have high growth, with an Asian flavour:

Vanguard FTSE Asia ex Japan Shares Index ETF (ASX: VAE)

The Asian region is handling the coronavirus much better than some western nations right now. South Korea, Singapore and Vietnam have all done impressive things with their own tactics. China is now in a much stronger position than the US to push on from this pandemic.

Vanguard is one of the best ETF providers in the world and this ETF has a management fee of just 0.4% per annum.

Due to Asia’s growing prominence, stronger savings rate and middle class wealth effect, I like the idea of getting exposure to Asian shares.

I think this ETF has high growth because it’s invested in businesses like Alibaba, Tencent, Taiwan Semiconductor Manufacturing, Samsung and Ping An Insurance. These businesses could easily be described as the equal of their western counterparts. But the ETF is actually invested in over 1,250 businesses, not just those few names, which is great diversification.

According to Vanguard, the ETF has an earnings growth rate of 11.6%, a return on equity (ROE) of 14.76% and a price/earnings ratio of just 13.3x. I believe these are attractive statistics and show the ETF has high growth potential.  

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

Perhaps you don’t want to be invested in 1,250 Asian shares. Maybe you just want exposure to 50 of the biggest and best Asian technology and online retail shares. Well that’s exactly what this ETF offers.

If you just looked at the holdings, you’d see similar names. But this ETF has larger positions of each tech name. Alibaba is 9.7% of the portfolio, Tencent is 9.7%, Taiwan Semiconductor Manufacturing is 9.2% and Samsung is 9%.

This high growth ETF has returned an average of 14.6% per annum after fees since inception in September 2018.

Around two thirds of the ETF is invested in three sectors: ‘semiconductors’, ‘interactive media & services’ and ‘internet & direct marketing retail’. These are attractive growth areas.

BetaShares Asia Technology Tigers ETF’s management fee is a bit higher at 0.67%, but it’s still a lot cheaper than typical active fund managers.

Foolish takeaway

Asian high growth ETFs have higher risks (particularly relating to China), but they could generate higher returns. If you just want a tech-focused ETF then the BetaShares offering could be a great pick. But choosing a broad investment exposure to the whole of Asia and every industry is also a very compelling prospect.

More reading

• 3 stellar ASX growth shares to buy right now
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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