- Block, Inc Q Afterpay, its own Buy Now, Pay Later entity, launched a new payment solution just before the busy market Christmas sales.
- The payment solution gives consumers even more choice, flexibility and time to pay, with transparent terms to support responsible spending.
- Consumers who choose Afterpay’s monthly payment option can budget their money over a six or 12-month period for purchases between $400 and $4,000 with consumer-friendly payment terms.
- The payment solution eliminated late fees and compound interest with a cap on the total interest owed with a clear view of the amount due at the time of purchase.
- Starting today, consumers can use Afterpay’s monthly payment option on US merchant websites. The company plans to expand the offering to dealers outside of the US in 2023.
- Since 2020, U.S. consumer spending on BNPL has grown by 660%, easily outpacing growth in debit and credit card spending.
- Block launched Tap to Pay on in September apple inc AAPL iPhone to its millions of sellers across the USA
- Available in the Square Point of Sale iOS app, Tap to Pay on iPhone allows sellers of all sizes to accept contactless payments directly from their iPhone with no additional hardware or cost to the seller.
- Price promotion: SQ shares traded 3.77% lower at $60.06 on the last check Wednesday.
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