Particle.news
Download on the App Store
6 ARTICLES
·
last yr.

Affirm Shares Skyrocket as Amazon Business Offers Buy Now, Pay Later Service to Sole Proprietors

Amazon Business users to access repayment options from three to 48 months with interest rates ranging between 10% and 36% as Affirm shares increase by 19%.

Overview

  • Affirm has partnered with Amazon Business to offer buy-now-pay-later (BNPL) services, primarily benefiting sole proprietors who will now have expanded payment options. This includes payments via equal installments over three to 48 months.
  • While most BNPL options usually don't charge interest, the new service will see Amazon's B2B platform customers charged an Annual Percentage Rate (APR) between 10% and 36%, based on each client's perceived credit risk.
  • Following the partnership announcement, Affirm's shares surged by over 19%, marking its largest daily percentage gain since August. Affirm shares have more than doubled this calendar year.
  • Affirm becomes the first BNPL lender to be included on the Amazon Business platform, although its service is already available to Amazon's retail customers. This new option is expected to become available to all qualified customers by Black Friday, November 24.
  • The partnership marks Affirm's ongoing relationship expansion with Amazon. Previously, Affirm collaborated with Amazon in 2021 to deliver flexible payment options and was incorporated into Amazon Pay earlier this year. Affirm is also the first pay-over-time option available at checkout on Amazon Business.