![]() On the consumer side, it had more than 19 million annual active consumers, up 47%. It intends to further integrate Afterpay's platform throughout 2022.Īt the end of December, Afterpay had more than 122,000 annual active merchants, 64% higher than a year earlier. In late February, Block introduced Afterpay Buy Now Pay Later to its U.S. BNPL allows customers to receive products immediately and pay for their purchases over installments, free from interest and service fees for customers who pay on time." "Greater integration of these platforms has been a long-standing goal for the company. "We believe strong cross-selling opportunities exist between the companies, as Block integrates Afterpay into its Seller and Cash App platforms," says Argus Research analyst Stephen Biggar, who rates SQ stock at Buy. In fiscal 2021, Afterpay processed $22.4 billion in transactions.Īrgus Research discussed the Afterpay acquisition in a March 4 note to clients. The combination of Afterpay with Block's Seller and Square App platforms created a mobile payments giant with millions of customers and merchants around the world. Block granted 0.375 SQ shares for every Afterpay share held. In early February, Square parent Block ( SQ, $146.84) jumped into the BNPL game in a big way by acquiring Australian-based Afterpay for $29 billion in stock. Analysts' ratings: 26 Strong Buy, 10 Buy, 9 Hold, 1 Sell, 1 Strong Sell.
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