Such an interesting play in becoming THE fintech/banking company of the future
Square snags buy-now-pay-later service Afterpay for $29 billion – CNET
Buy-now-pay-later services are very hot in the pandemic era and Square wants in. The digital payments company, founded by Twitter CEO Jack Dorsey, has acquired Australian BNPL company Afterpay for $29 million, it was announced on Sunday. Afterpay allows you to buy a product online or in-store and pay for it in four installments. One quarter is paid upfront, with subsequent quarters being paid every two weeks. The service comes with zero interest, as Afterpay makes money from retailers that pay to appear on the service, though there are late fees for missed payments.