Block completes USD 29 bln Afterpay acquisition

Wednesday 2 February 2022 10:18 CET | News

Block has completed its USD 29 billion acquisition of Buy Now, Pay Later company Afterpay, according to AltFi.

Under the deal, first announced back in August 2021, Block, which is headed by the Twitter founder Jack Dorsey and owns the Square and Cash apps, has acquired all of the issued shares in Afterpay. This will allow its merchant customers in the United States and Australia of all sizes to offer Buy Now, Pay Later at checkout. 

Also, Afterpay’s customers will have the ability to manage their instalment payments directly in the Cash app. Cash App customers will also now be able to discover sellers and BNPL offers directly within the app.

Square provides commerce solutions, business software, and banking services to companies. The Cash app, meanwhile, offers customers the ability to send, spend, or invest their money in stocks or Bitcoin.

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Keywords: acquisition, Afterpay, Square, Twitter, BNPL
Categories: Banking & Fintech
Companies: Afterpay, Block
Countries: World
This article is part of category

Banking & Fintech




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