Square reported a net revenue excluding that from Bitcoin of $1.96 billion during the second quarter.
Afterpay allows shoppers to receive products immediately and pay in four simple installments over a short period of time.
Afterpay Limited (abbreviated as Afterpay) is an Australian financial technology company best known for its buy now, pay later (BNPL) service. It operates in Australia, the United Kingdom, Canada, the United States, and New Zealand. Afterpay was founded in 2014 by Nick Molnar and Anthony Eisen.
In June 2017, Afterpay merged with one of its technology suppliers, Touchcorp, to form the Afterpay Touch Group. In November 2019, the company was renamed Afterpay Limited. In August 2021, Afterpay and American payments company Square, Inc. (later renamed Block, Inc. in December 2021) announced they had entered into arrangements for Square to acquire Afterpay for US$29 billion (A$39 billion), which was later completed on January 31, 2022.
Square reported a net revenue excluding that from Bitcoin of $1.96 billion during the second quarter.
Jack Dorsey’s Square will be acquiring Afterpay, which is a “buy now and pay later” firm in a deal worth $29 billion.