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Amazon partners Affirm to offer customers BNPL option

Amazon partners Affirm to offer customers BNPL option

Amazon has teamed up with Affirm to offer its US customers a buy now, pay later option at the checkout.

The instalment payment option is already being tested with some customers and will be rolled out more broadly over the next few months.

Customers will have the option to split the total cost of purchases of $50 or more into monthly payments.

Affirm says that approved customers are shown the total cost of their purchase upfront and will never pay more than what they agree to at checkout. They will also not be charged any late or hidden fees.

“By partnering with Amazon we’re bringing the transparency, predictability and affordability that Affirm provides today to the millions of people who shop on Amazon.com in the US,” says Eric Morse, SVP, sales, Affirm.

The news sent Affirm's stock price soaring. By 13.00 EST on Monday, the firm was trading at over $97 a share, up from $67.90 at Friday' close.

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