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What is Afterpay? Here’s your guide to buy-now-pay-later services, including when to use them and when it’s in your best interest to walk away. This was originally published on The Penny ...
Afterpay Limited (abbreviated as Afterpay) is an Australian technology company and a buy now, pay later (BNPL) lender. [1] [2] Founded in 2014 by Nick Molnar and Anthony Eisen, it is now owned by Block, Inc. [3] As of 2023, Afterpay serves 24 million users, [3] [4] processes US$27.3 billion in annual payments, [5] and ranks among the three most-used BNPL services globally.
The expansion was said to be aimed at sole proprietors, cited by CNBC as the most common form of business ownership in the U.S. [4] That same month, Affirm announced a similar partnership, this time with Best Buy, [53] and the launch of a spending account tied to its debit card. The company's President, Libor Michalek, stated that the account ...
Over the past few years, the buy now, pay later industry has taken the financing world by storm. Many consumers are familiar with Afterpay, an app that allows customers to purchase products online ...
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In August 2021, Afterpay was acquired by Square Inc. (later renamed Block, Inc. in December 2021) for US$ 29 billion. [2] It was reported that Eisen and Molnar received US$ 2.7 billion in Square stock for their Afterpay shares and, post-settlement, they will jointly lead Afterpay’s merchant and consumer businesses inside Square.
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