SAN FRANCISCO—Shares in Affirm, a fintech that has partnered with Amazon to allow a buy now, pay later option at Amazon’s checkout, have jumped 40%.
Select Amazon customers will have the option to split the total cost of purchases of $50 or more, and Amazon plans to make Affirm available to more customers in the coming months, MarketWatch reported.
Amazon “is always looking to add flexible payment options, and Affirm does just that” with no late or hidden fees, an Amazon spokesperson told MarketWatch.
As CUToday.info has extensively reported, buy now, pay later companies such as Affirm offer a twist on the old layaway plan, allowing consumers to buy in installments and charging them either simple interest or no interest at all and with instant access to what they bought.