SAN FRANCISCO—Momentum for buy-now bay-later services just keeps growing.
Affirm shares jumped 20% recently after retail chain Target began offering its customers the online lender’s installment loan service for purchases of over $100.
Target said it’s partnering with Affirm and smaller rival Sezzle as consumers gear up for the holiday shopping season, CNBC reported.
“BNPL services have surged in popularity as retailers respond to consumer demands for easy ways to pay without incurring debt. BNPL providers typically add a checkout button to a retailer’s website and then take a cut from the merchant on each transaction,” CNBC noted.