This Sept. 6, 2012, file photo shows the Amazon logo in Santa Monica, Calif. Amazon is teaming with payments company Affirm to offer online shoppers a buy-now-pay-later option that does not involve credit cards. San Francisco-based Affirm Holdings Inc. announced Friday, Aug. 27, 2021 that its flexible payment service will soon be available on Amazon.com. (AP Photo/Reed Saxon, File)
Amazon is teaming with payments company Affirm to offer online shoppers a buy-now-pay-later option that does not involve credit cards.
San Francisco-based Affirm Holdings Inc. announced Friday that its flexible payment service will soon be available on Amazon.com.
The news sent Affirm's stock up more than 35% in after-hours trading.
With the service, Amazon customers can split the total cost of purchases of $50 or more into monthly payments, and are told the total cost of the transaction up front. Affirm said there are no late fees.
Affirm said the two companies are testing the service with a group of customers and that it will be more broadly available in coming months.
Installment plans are popular with retailers because they encourage customers to spend more money. And they enable customers with insufficient funds or credit at the time of purchase to walk out of a store — or check out online — with the item they want.
Peachtree Group CEO Greg Friedman breaks down the Fed's rate decision and the Senate's housing affordability bill and what it means for commercial real estate.
Nodi is giving kids a safe way to stay connected before they're ready for a smartphone. CEO Pascal Leonard Blum breaks down how the device works for families.
From coast to coast, gas prices are telling different stories. AAA's Aixa Diaz explains what's behind the numbers and what it means for American drivers.
AutoStore’s CPO Parth Joshi explains its new AI software layer designed to optimize warehouse robots in real time and unlock smarter, more efficient fulfillment
ROC CEO B. Scott Swann joins us live from the NYSE to discuss the company's IPO and how VisionAI is transforming facial recognition for defense and security.
If you asked anyone in 2007 what a “subprime mortgage” was, they wouldn’t have any idea. So here’s a question for you: Do you know what the private credit
Matternet founder and CEO Andreas Raptopoulos on the state of drone delivery in the U.S. and what it will take to make aerial delivery a mainstream reality.
