Square To Buy Australia’s Afterpay To Get In on ‘Buy Now, Pay Later’ Trend

Square To Buy Australia’s Afterpay To Get In on ‘Buy Now, Pay Later’ Trend.
Square announced the $29 billion, all-stock deal on Aug. 1.
Square and Afterpay have a shared purpose, Square, via statement.
We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand aligned with those principles, Square, via statement.
Square plans to integrate Afterpay into both its seller and Cash App services.
Square plans to integrate Afterpay into both its seller and Cash App services.
Square CFO Amrita Ahuja
said the acquisition provides
a chance to create a "more
powerful ecommerce platform.".
We see a real opportunity to enable the next gen consumer that’s looking for different ways and, in this experience, an interest free way of expanding the purchase potential, Square CFO Amrita Ahuja, via statement.
What that ends up doing is merchants pay for the Afterpay experience but they get higher average order volumes, they get greater conversion, they get greater frequency and lower returns and they get a marketing channel from Afterpay.., Square CFO Amrita Ahuja, via statement.
which is ultimately helping those merchants grow their business and that’s what Square is all about, Square CFO Amrita Ahuja, via statement.
The deal is epected to close in Q1 2022