Square to acquire Afterpay for $29B

Re:Square to acquire Afterpay for $29B by jeeeb on Monday August 02, 2021 @12:09AM (#28032771)

To play devil’s advocate though, if a 6% payment fee allows a merchant to make a sale they wouldn’t have otherwise made, then that might be a net win from their perspective. I.E. eating some decrease in profit is better than making nothing at all.

It’s basically the app version of offering interest free payments on a purchase.

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Re:Square to acquire Afterpay for $29B by systemvoltage on Monday August 02, 2021 @12:13AM (#28032800)

Totally agree - I was just poiting out that just like 2.9% credit card fees that get ammortized over the total sales by the means of higher prices (meaning even if you use cash, you don't get a discount[1]), the 6% has to come from somewhere.

[1] Some gas stations have a different cash rate to pass the savings on to the customer

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