Over the last two years, U.S.-based Square’s market capitalization on the New York Stock Exchange has more than quadrupled to the $130-billion range. The merchant payment processor will issue $29 billion in stock to acquire all of the issued shares in Australia-based buy now, pay later firm Afterpay. Afterpay’s market capitalization on the Australian Stock Exchange is in the $27-billion range. This makes it largest among the eight publicly traded BNPL firms. Sweden-based Klarna, which is not publicly traded, has the largest enterprise valuation among BNPL firms worldwide at $45.60 billi...