iTWire Square to buy Afterpay
Global payments provider Square is set to buy Australia’s buy now pay later platform Afterpay in a deal which values the company at $39 billion.
Widespread media reports, including by the national broadcaster the ABC this morning, report that Square is planning to takeover Afterpay in a deal that would be the biggest takeover in Australian sharemarket history. The deal is expected to close in the first three months of next year.
Square is run by Twitter co-founder and American billionaire technology entrepreneur and philanthropidst Jack Dorsey.
Data and global analytics company GlobalData reports that Square’s announcement to acquire Afterpay is the latest development in the BuyNowPayLater (BNPL) space, as it looks to expand into the growing market.
GlobalData : Square looks to expand into booming buy now pay later market in Asia-Pacific with Afterpay acquisition, says GlobalData
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GlobalData plc (via Public) / Growth in Hong Kong wealth market to drive affluent population growth in 2021, says GlobalData
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10 Mar 2021
Buy now and pay later all set to disrupt e-commerce payments in APAC, says GlobalData Posted in Banking Buy now and pay later (BNPL) has emerged as a viable credit option for e-commerce purchases in Asia-Pacific (APAC) as several payment companies are now offering this service, says GlobalData, a leading data and analytics company. An analysis of GlobalData s E-Commerce Analytics reveals that the APAC e-commerce market is set to grow at a compound annual growth rate of 17.6% from US$1.2 trillion in 2016 to US$3.6 trillion in 2023. Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, comments: The COVID-19 pandemic has not only adversely affected businesses but also consumers disposable income. As a result, with rise in demand for consumer financing and growing e-commerce sales buy now and pay later service has emerged as a major short-term borrowing tool for consumers.
Mobile wallet payments in South Korea to surpass US$500bn in 2024, reveals GlobalData
11 Feb 2021
Mobile wallet payments in South Korea to surpass US$500bn in 2024, reveals GlobalData
Posted in Banking
South Korea is a well-developed payments market, with consumers preferring cashless payment. While credit cards are the mostly preferred payment method, mobile wallet payments transaction value is expected to reach KRW581.3 trillion (US$503.5bn) in 2024, according to GlobalData, a leading data and analytics company.
An analysis of GlobalData s Payment Instrument Analytics reveals that the mobile wallet payments transaction value grew from KRW12.0 trillion (US$10.4bn) in 2016 to an estimated KRW209.7 trillion (US$181.6bn) in 2020.