Square has agreed to acquire Australian buy-now, pay-later service Afterpay in an all-stock deal worth around $29 billion, making it one of the biggest acquisitions in Australian history. People are already wondering whether Square will pay in four installments of $7.25 billion in shares.
The acquisition was announced in a joint press release on Sunday, with Square stating that it plans to integrate Afterpay into both Cash App and Seller. Cash App allows customers to make payments and transfer money, while Seller is targeted toward retailers. Once Afterpay is integrated, Cash App users will be able to manage their Afterpay payments within the app, while merchants who use Seller will be able to offer Afterpay to customers.