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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.
Afterpay also offers many attractive features. There is no minimum purchase amount required to use Afterpay. While some merchants may have their own limits, Afterpay doesn’t impose any restrictions.
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According to StatCounter web use statistics (a proxy for all use), in the week from 7–13 November 2016, "mobile" (meaning smartphones) alone (without tablets) overtook desktop for the first time and by the end of the year smartphones were in the majority. Since 27 October, the desktop has not shown a majority, even on weekdays.
Square's purchase of Australian buy now, pay later provider Afterpay Ltd for $29 billion in stock, the largest ever acquisition by Dorsey's firm, was consummated within three months, said four ...
Retailers are charged 4-6% for every transaction. [4] In August 2021 Afterpay and Square, Inc. (later renamed Block, Inc. in December 2021), a digital payments company, announced they had entered into arrangements for Square to acquire Afterpay for US$ 29 billion (A$ 39 billion) which was completed on 31 January 2022.
In August 2021, Afterpay was acquired by Square Inc. (later renamed Block, Inc. in December 2021) for US$ 29 billion. [3] 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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