Amazon customers can soon tap a buy now, pay later (BNPL) solution via the eCommerce giant’s new collaboration with Affirm, a trial move that is being tested with select companies and their customers.
“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 U.S.,” Affirm Senior Vice President of Sales Eric Morse said in a Friday (Aug. 27) announcement.
Related: BNPL Race Heats Up For Summer With Global Push, Partnerships
He added that with Affirm, Amazon can offer an alternate payment method to consumers that is based on interest-free installments, according to a the announcement.
“Offering Affirm’s alternative to credit cards also delivers more of the payment choice and flexibility consumers on Amazon want,” Morse said.
See also: BNPL Firm Afterpay Debuts Ads
Launched in 2012 in Silicon Valley, Affirm is a FinTech startup that offers consumers the ability to pay for purchases over time, interest-free at the point of sale. The network empowers shoppers, but also gives merchants the ability to advance growth via new payment options.
Although the Affirm payment option is only being rolled out to select customers, per the release, the long-range plan is to extend the benefit to more customers in the months ahead.
Read more: BNPL Adoption Accelerates, Driven By Benefits To Consumers, Retailers
The tie-up between the two firms will enable Amazon consumers to split purchase payments of $50 or more into equal installments, without late fees or hidden charges, according to the release. Affirm’s mission is steeped in continuing to build out a payment network that is transparent and secure. The startup partners with multiple lending partners.
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NEW PYMNTS DATA: 58 PERCENT OF MULTINATIONAL FIRMS ARE USING CRYPTOCURRENCY
About: In spite of their price volatility and regulatory uncertainty, new PYMNTS research shows that 58 percent of multinational firms are already using at least one form of cryptocurrency — especially when moving funds across borders. The new Cryptocurrency, Blockchain and Global Business survey, a PYMNTS and Circle collaboration, polls 500 executives looks at the potential and the pitfalls facing crypto as it moves into the financial mainstream.
Amazon clients can quickly faucet a purchase now, pay later (BNPL) resolution by way of the eCommerce large’s new collaboration with Affirm, a trial transfer that’s being examined with choose corporations and their clients.
“By partnering with Amazon we’re bringing the transparency, predictability and affordability that Affirm offers right now to the thousands and thousands of people that store on Amazon.com within the U.S.,” Affirm Senior Vice President of Gross sales Eric Morse mentioned in a Friday (Aug. 27) announcement.
Associated: BNPL Race Heats Up For Summer time With International Push, Partnerships
He added that with Affirm, Amazon can supply an alternate cost methodology to shoppers that’s based mostly on interest-free installments, in response to a the announcement.
“Providing Affirm’s various to bank cards additionally delivers extra of the cost selection and adaptability shoppers on Amazon need,” Morse mentioned.
See additionally: BNPL Agency Afterpay Debuts Adverts
Launched in 2012 in Silicon Valley, Affirm is a FinTech startup that gives shoppers the power to pay for purchases over time, interest-free on the level of sale. The community empowers consumers, but additionally provides retailers the power to advance development by way of new cost choices.
Though the Affirm cost possibility is just being rolled out to pick out clients, per the discharge, the long-range plan is to increase the profit to extra clients within the months forward.
Learn extra: BNPL Adoption Accelerates, Pushed By Advantages To Shoppers, Retailers
The tie-up between the 2 companies will allow Amazon shoppers to separate buy funds of $50 or extra into equal installments, with out late charges or hidden prices, in response to the discharge. Affirm’s mission is steeped in persevering with to construct out a cost community that’s clear and safe. The startup companions with a number of lending companions.
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NEW PYMNTS DATA: 58 PERCENT OF MULTINATIONAL FIRMS ARE USING CRYPTOCURRENCY
About: Despite their value volatility and regulatory uncertainty, new PYMNTS analysis reveals that 58 p.c of multinational companies are already utilizing at the very least one type of cryptocurrency — particularly when transferring funds throughout borders. The brand new Cryptocurrency, Blockchain and International Enterprise survey, a PYMNTS and Circle collaboration, polls 500 executives appears on the potential and the pitfalls going through crypto because it strikes into the monetary mainstream.
