Affirm and Amazon Introduce Pay-Over-Time Option to Customers in Canada

Rhea-AI Summary

Affirm (NASDAQ: AFRM) has expanded its partnership with Amazon to Canada, enhancing payment options for customers shopping on Amazon.ca. This new feature, available in both English and French, allows eligible customers to select Affirm during checkout and undergo a quick, soft credit check without affecting their credit score. Customers can split purchases of $50 or more into monthly payments with no hidden fees or late charges. Affirm aims to deliver transparency and flexibility, building on its success in the U.S. market.

Positive

• Expansion of Affirm's partnership with Amazon to Canada enhances service offerings.
• Provides eligible customers with flexible payment options, improving purchasing power.
• No impact on customers' credit scores due to the soft credit check.

Negative

• None.

SAN FRANCISCO & TORONTO--(BUSINESS WIRE)-- Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced the expansion of its relationship with Amazon to Canada, bringing increased payment flexibility and transparency to customers shopping on Amazon.ca. This payment option will be available during checkout to all eligible customers in both English and French within the next month.

(Photo: Business Wire)

Customers who select Affirm as a payment option during checkout on Amazon.ca will go through a quick, free soft credit check that won’t impact their credit score. In seconds, Affirm's technology will determine available payment options for each customer. If approved, eligible customers will be able to split their purchases of $50 or more into simple monthly payments. From the start, eligible customers will know how many monthly payments they have and when they'll be done paying. Even if they're late or miss a payment, a customer’s total payment amount will not increase, and they will not be charged a late or hidden fee.

“We’re always looking to enhance the paying experience for our customers, including how and when they can pay for their orders,” shares David Williams, Vice President of Amazon Payment Products. “Introducing Affirm in Canada gives our customers another flexible payment option for their purchases.”

"Since launching with Amazon in the U.S., we've been providing eligible Amazon customers with a powerful tool to responsibly increase their purchasing power," said Geoff Kott, Affirm’s Chief Revenue Officer. "We are excited to bring customers shopping on Amazon.ca the opportunity to pay for everyday items and milestone purchases with Affirm as we deliver the same level of transparency and flexibility that customers have come to expect from Affirm across our markets in North America and beyond."

About Affirm
Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network — one based on trust, transparency and putting people first — we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | Twitter.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20220922005311/en/

Press

Affirm

Alex Rafter

press@affirm.com

(650)398-2715

Source: Affirm

FAQ

What is the significance of Affirm's expansion with Amazon in Canada?

Affirm's expansion with Amazon in Canada allows customers to enjoy flexible payment options, enhancing their shopping experience on Amazon.ca.

How does Affirm's payment option work on Amazon.ca?

Eligible customers can choose Affirm at checkout, undergo a soft credit check, and split purchases of $50 or more into monthly payments without hidden fees.

When will Affirm's payment option be available for Amazon.ca customers?

Affirm's payment option will be available during checkout to eligible customers in both English and French within the next month.

What are the benefits of using Affirm on Amazon.ca?

Using Affirm offers transparency in payment amounts, no late fees, and the ability to manage purchases more responsibly.

What does the soft credit check mean for customers using Affirm?

The soft credit check allows Affirm to determine payment options for eligible customers without impacting their credit scores.