US merchants who use Amazon Pay can now offer Affirm as an option

Amazon Pay recently revealed a new deal with Affirm, which officially became the first “buy now, pay later” service to Amazon Pay. The service offers clear benefits, such as the users getting the product or service right away and then paying for it at their own pace. It comes with no hidden fees, and it is Amazon’s response to the growing popularity of paying for goods and services over time rather than right away.

This means that US merchants using Amazon Pay can now offer their customers installment payment options. Technically speaking, Amazon Pay has actually only expanded the existing service. It has been offering Affirm pay-over-time options to US customers on its app and website since 2021. However, now it offers the same to all merchants using Amazon Pay.

How does it work?

Affirm has an Adaptive Checkout, which allows it to offer bi-weekly and monthly pay-over-time options. Both of these will now be available at checkouts, and users who click the Amazon Pay button on any participating retailer’s site will see the option once they reach checkout. By selecting Affirm as their payment method, they can complete a real-time approval process, which will have no negative impacts on their credit scores.

Multiple Amazon Pay merchants have already integrated Affirm as a payment method, including UltraSabers, Casper, and USA Berkey Filters. Furthermore, many more will do the same over time, and likely very soon.

Amazon Pay’s director, Omar Soudodi, commented, “We know customers want convenient and flexible payment options—whether they’re checking out on Amazon.com or using Amazon Pay. With Affirm on Amazon Pay, merchants can offer a pay-over-time option to their existing customers and have another way to reach new customers.”

Other details of the new deal

As mentioned, Affirm started working with Amazon in August 2021 — almost two full years ago now. While the service was initially exclusive to the US, it is now also available in Canada.

The new deal will allow users to pay bi-weekly or monthly for any purchase over $50, starting at 0% APR. The fintech firm always claimed that users would never pay more than they agreed to, so Affirm has no hidden fees, late fees, or anything of the sort.

This means that consumers are getting another way to spread out the payments for their purchases. Amazon Pay has already been making it easier for people to order things on the internet without having to waste time on details like entering their names, addresses, and payment info. With a click of a button, they can just connect their Amazon account, where all this data is already stored, significantly speeding up the payment process. Q

Amazon will benefit from this as well, as Affirm already has a 16 million-strong shopper network which will now be able t purchase through Amazon.