How Square Can Supercharge Buy Now, Pay Later
Square (NYSE: SQ) is jumping into the buy now, pay later trend with the acquisition of Afterpay (ASX: APT), the world leader for that payment service. Combining the two companies will enable Square to capitalize on the growing trend and supercharge Afterpay's growth in the U.S., U.K., and other countries it operates in.
Square comes to the table with 70 million Cash App users that it plans to introduce to Afterpay. "Afterpay will expand Cash App's growing product offering, enable customers to manage their repayments, and help customers discover new merchants," the company wrote in a press release announcing the $29 billion deal.
Cash Card and a Square card reader. Image source: Square.
Source Fool.com
