Affirm and Amazon have entered a partnership that will allow Amazon.com customers to make monthly payments on purchases. Using Affirm's platform Amazon shoppers who spend $50 or more will be eligible to use the technology after a full release of the program. Image: Amazon and Affirm
FINANCIAL TECHNOLOGY
Amazon and Affirm Announce Partnership for Pay-Over-Time Option
Payment network Affirm announced a partnership with Amazon that will allow Amazon.com customers to choose from more-flexible payment options during checkout. When checking out with purchases of $50 or more, Amazon customers are able to make payments monthly using Affirm. Currently, the companies are testing the offering with a group of select customers and will roll out the option over the next few months.
“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.,” said Eric Morse, senior vice president of sales at Affirm. “Offering Affirm’s alternative to credit cards also delivers more of the payment choice and flexibility consumers on Amazon want.”
On a mission to build “a new kind of payment network,” the partnership, which was announced by the San Francisco–based Affirm, is working with Amazon to make shopping more equitable. Customers who are approved to use the service are shown their total costs and only required to pay what they’ve agreed to at checkout. According to Affirm, customers are not charged any hidden or late fees.
