Square buys ‘buy now, pay later’ service pays after 29 29 billion.
Buy in the epidemic era and now the post-payment services are very hot and want to go inside the square.
After Pay allows you to buy a product online or in-store and pay for it in four installments. One quarter is paid first, the next quarter is paid every two weeks. The service comes with zero interest, as it earns money from post-payment retailers who pay to appear on the service, although there are late fees for smaller payments.
AfterPay is one of the many buying and paying companies that has flourished since the Cove 19 epidemic and accelerated the trend towards online shopping like Clarna and Proof. PayPal jumped on the bandwagon last September.. CB Basirat, a research firm, expects the sector to grow 10 to 15 times by 2025.
“Square and AfterPay share a common goal,” Dorsey said in a statement. Made. “
“Together, we can better integrate our cash app and seller ecosystem to provide even more impressive products and services for merchants and consumers.”
Square last made headlines in July when it announced. This will create a new business focused on bitcoin.
, In which it is a huge investor. The new business will help developers design decentralized financial products. Or, in Dorsey’s words, “an open developer platform whose sole purpose is to facilitate non-concentration, unauthorized and decentralized financial services.”
The purchase of Square will allow it to have more exposure in Australia, the company’s second largest market. AfterPay has 16 million users worldwide, with more than 100,000 merchants signing up for the service.
Square said the deal is expected to expire in early 2022, and will see an after-pay executive be appointed to Square’s board.