Square wants to acquire Australian fintech company Afterpay for $ 29 billion as it seeks to expand its market share in installment loans. The business is mainly affected by the trend "Buy now, pay later." Square customers are not conservative, on the contrary, and they avoid traditional credit, especially younger buyers. The agreement should not be concluded until the first quarter of 2022. Cash App profit grown 94%, and the seller jumped 85% if we compared the previous year.
Performance of 5 years for Square Inc. (Source: Investing.com)