Square to buy Afterpay for $29 billion as buy now, pay later booms By Reuters
By Shashwat Awasthi and Paulina Duran (Reuters) -Square Inc on Monday said it has agreed to purchase buy now, pay later (BNPL) pioneer Afterpay Ltd to create a global online payments giant, offering a 30% premium in a share-swap deal that is set to be Australia's biggest-ever buyout. Created in 2014, Afterpay has been the bellwether of the niche no-credit-checks online payments sector that burst into the mainstream last year as more people, especially youngsters, chose to pay in instalments for everyday items during the pandemic. Burgeoning popularity, quick uptake among users and loose regulation...
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