SAN FRANCISCO—Two big players in the fintech space are joining forces.
Affirm is making its buy now, pay later solution available to businesses that use Stripe’s payments tech, meaning many more companies that were not previously able to offer their customers the option to pay in installments, now can, reported TechCrunch.
“The deal is significant for Affirm because Stripe, which was valued at $95 billion last year, has millions of customers. It processes hundreds of billions of dollars each year for every size of business — from startups to Fortune 500s,” explained TechCrunch.
The combination gives Affirm an opportunity to generate more revenue as it makes money in part on interest fees. For its part, Stripe is able to offer prospective, and current, customers more payment flexibility, TechCrunch added.