Square is growing in the world of credit payments with the acquisition of Australian fractional payments company Afterpay and Professor Jacquet analyzes the deal and what this growing market represents.

The U.S.-based digital payments company, founded by Twitter boss Jack Dorsey, has paid a $29 billion stock price.

Square co-founder and CEO Jack Dorsey explained that with the acquisition of Afterpay, the companies will be able to perfectly fulfill their mission of making the financial system more accessible, inclusive and fair for all.

For Afterpay co-founders Anthony Eisen and Nick Molnar, the tie-up marks an important recognition of Australia’s technology sector as local innovation continues to be shared more broadly around the world.