According to the press release, with this acquisition, Afterpay is able to expedite its expansion into Europe and capitalise on a market primed for ‘Buy Now, Pay Later’ services. Moreover, as part of the agreement, NBQ will receive a minimum EUR 50 million, with EUR 5 million in cash payable at completion of the acquisition and a deferred consideration of a minimum of EUR 45 million, payable three years after completion of the agreement.
On the other side, Afterpay will offer Pagantis' BNPL products under its European brand, Clearpay, as Pagantis' existing credit products will be discontinued.
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