AFTPY - Square stock jumps after CFO discusses Afterpay's 'stellar growth'

Afterpay's (OTCPK:AFTPF +6.4%) (OTCPK:AFTPY +5.9%) "stellar growth"  plus the "Buy Now, Pay Later" ("BNPL") sector's projected trajectory attracted Square (NYSE:SQ) to acquire the Australian-based company, Square Chief Financial Officer Amrita Ahuja said in a radio interview. Square stock climbs 6.5% in midafternoon trading on Thursday. Online payments volume is expected to grow to a $10T by 2024, and BNPL is only about 2% of that amount. "But it's growing quickly," she said. Ahuja sees a number of drivers fueling that growth. "We’re seeing consumer preferences shift away from traditional credit cards. We’re seeing millennial and Gen Zs shift their spending habits and with a preference for predictable and transparent borrowing," Ahuja said. In addition to consumer getting another payment option, merchants will profit as well. The addition should translate to growth for merchants who use Square (SQ) and Afterpay's (OTCPK:AFTPF) BNPL products. "This sort of a product with 'Buy Now, Pay Later' and, in

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Square stock jumps after CFO discusses Afterpay's 'stellar growth'