Afterpay founders vegemite toast chat genesis of historic $39b merger with tech titan Square. I speak with Afterpay co-founder Nick Molnar.

The $39 billion takeover of the buy-now-pay-later company Afterpay by US tech giant Square is the latest evidence of a rapidly growing payments sector as consumer shun credit cards and move away from cash.

What began as a breakfast chat over vegemite toast between neighbours Nick Molan and Anthony Eisen a decade ago is now at the centre of the biggest deal in Australian corporate history.

In his first broadcast interview on the deal, Afterpay co-founder Nick Molnar spoke with ABC's Peter Ryan.