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The takeover underscores the popularity of a business model that has upended consumer credit by charging merchants a fee to offer small point-of-sale loans which their shoppers repay in interest-free instalments, bypassing credit checks.
"We built our business to make the financial system more fair, accessible, and inclusive, and Afterpay has built a trusted brand aligned with those principles," said Dorsey in the statement. "Together we can better connect our ... ecosystems to deliver even more compelling products and services for merchants and consumers, putting the power back in their hands."
https://www.reuters.com/technology/square-buy-australias-afterpay-29-billion-2021-08-01/
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