Square's $29 billion deal for buy-now, pay-later player Affirm is the starting gun for the race to build a money super app
Jack Dorsey's Square wants to acquire buy-now, pay-later giant Affirm for $29 billion.Visit almost any major fashion, flight, or furniture website to buy something, and you will likely spot a button offering you the chance to spread out the cost of your payments.
This is the phenomenon of buy now, pay later , a new type of credit that originated in Australasia but has now become the default credit option for millions of young people, surpassing traditional credit cards. Depending on the terms, the financing might be interest free, with users often having to pass a soft credit check. and has been booming as COVID-19 pushes shoppers online.
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