3 min read.Updated: 30 Aug 2021, 06:33 AM ISTUpasana Taku
Convenience of payments, with the benefits of pay later, will democratize credit
US fintech giant Square recently announced an all-stock acquisition of ‘buy now pay later’ (BNPL) leader Afterpay. The deal, at $29 billion, was at a whopping 30% premium to its previous closing price. While the BNPL industry has seen rapid growth in developed markets for the past few years, this acquisition proves that BNPL is the future of payments globally and more so for developing markets such as India.