From 1st February 2022 Afterpay becomes part of the Block Inc
Block, Inc. (NYSE: SQ) and Afterpay Limited announced the successful completion of the Scheme of Arrangement under which Block has acquired all of the issued shares in Afterpay. This transaction aims to enable Block to better deliver compelling financial products and services that expand access to more consumers and help drive incremental revenue for sellers of all sizes.
"We’re excited to welcome the Afterpay team to Block and are eager to get to work," said Jack Dorsey, Block co-founder and CEO. "Together, we’ll deliver even better products and services for sellers and consumers while staying true to our shared purpose of making the financial system more fair and accessible to everyone."
Will the Afterpay brand continue after integration or simply become part of Cash App?
- In the short term, we don’t plan for anything to change. We believe Afterpay has a strong BNPL brand that resonates with its merchants and the consumers who use it.
- In the long term, we will explore our options and do what's best for our customers and the business.
How will the acquisition affect my account? Will there be any changes to the ability to use Afterpay or to my payment schedule?
- There are no changes to the way Afterpay works in any way, you can continue to enjoy the Afterpay product and services as you always have.
Will Afterpay still be free for customers who pay on time?
- Yes! Afterpay will continue to be free to consumers who pay back on time.
- There are no changes to the way Afterpay works in any way.
Will I become a Block/Square customer as a result of this acquisition?
- No, not right now. You will continue to be an Afterpay customer. And, as always, we’ll be sure to let you know if there are any changes to your account.
Will there be new terms and conditions related to my account?
- No, not right now. You will continue to be an Afterpay customer. And, as always, we’ll be sure to let you know if there are any changes to your account or our terms and conditions.
Will there be new pricing for merchants?
- Our customer and merchant relationships are very important to us - and we have no plans to change pricing or other terms of the relationship at this time.
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