Block explores how to price AI

Block, the parent company of Square and Afterpay, is shifting its focus toward integrating artificial intelligence across its entire ecosystem. For retailers using Square or offering Afterpay, this means a wave of new automated tools is coming to your point-of-sale and financing workflows. CEO Jack Dorsey recently signaled that the company is prioritizing user adoption over immediate fees. This suggests that merchants may soon have access to advanced AI features for customer service and credit decisioning without an immediate price hike. The goal is to make financing and payment management more efficient for small to mid-sized businesses. Block is currently testing generative AI to help merchants automate product descriptions and streamline customer communications. For those in the consumer financing space, the most significant impact will likely be in how Afterpay handles risk and personalized offers. By using AI to better predict repayment behaviors, the platform aims to increase conversion rates for merchants while minimizing defaults. This technological push is designed to keep Square and Afterpay competitive against traditional banks and other BNPL providers that are also racing to automate their lending processes.

Source: Payments Dive

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