Sep. 28, 2022
Square Sellers Can Now Offer BNPL
Square launched its first integration with Afterpay in Canada, providing ‘buy now, pay later’ (BNPL) functionality to sellers using Square’s eCommerce products. Square says the BNPL model has taken off in Canada, fuelled by the accelerated shift to eCommerce during the pandemic. Payments are projected to grow 63.5 per cent and reach $5.9 billion in Canada in 2022. Additionally, Canadian Gen Z and Millennials (ages 18 to 44) use BNPL more than any other consumer segment. Integration of the platform has taken place across the U.S. and Australia markets and transaction sizes are up as much as three times over non-BNPL purchases.