Investors can still hold shares in the merged business on the ASX through a dual listing,but Block,led by Twitter co-founder Jack Dorsey,is based in the US and is mainly focused on that market.
Mr Molnar,who has joined Block alongside fellow co-founder Anthony Eisen,said the focus this year would be on integrating the two businesses,including by promoting Afterpay to Block’s customers,and vice versa.
On Tuesday,Block took its first step in this direction by announcing its business Square would start offering Afterpay’s short-term instalment loans to its online merchant customers. It plans to provide Afterpay to Square’s bricks and mortar merchants in the coming months.
“To be able to roll this out on day one,in line with the day that we announce the transaction,just illustrates the speed that we want to move,” Mr Molnar said.
“This first announcement is just a signal of what’s to come,and we’re really bullish and excited about the future.”
While the share prices of some BNPL firmshave tumbled in recent weeks and analysts have predicted growing competition as more banks enter the sector,Mr Molnar sought to highlight the growth potential of the sector,which competes with credit cards.
“I definitely think BNPL is still in its very early stages of growth across the world,and more particularly in North America,” Mr Molnar said.