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What Square’s acquisition of Afterpay means for BNPL in Southeast Asia
- Wednesday | 4th August, 2021
Over the last year, e-commerce has driven the growth of BNPL as a new payment model that gives Southeast Asian buyers greater freedom over their purchases. BNPL allows more people in the region the opportunity to easily own anything from mobile phones, TVs, furniture or clothing. While there are no leading BNPL providers in Southeast Asia yet, the space continues to grow. Square’s acquisition of Australia-based Afterpay is a strategic move that signals the emergence of BNPL in Asia Pacific. This approach would provide more value to both customers and investors by integrating with other industries or platforms such as mobile payments, online lending, and personal finance management tools.
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