Amazon and Affirm expand partnership! Affirm will embed Amazon Pay as a payment option!

It is learned that US payment giant Affirm announced on Wednesday that it will expand its partnership with Amazon, allowing eligible US consumers to purchase goods over $50 on Amazon and use installment payments. Previously, this service was only available to specific Affirm customers.

In addition, Amazon will receive multiple batches of Affirm Class A common stock warrants, becoming Amazon's only third-party, non-credit card, BNPL service provider in the U.S. At the same time, Affirm will also be embedded in Amazon Pay as a payment option.

Affirm’s active consumers more than doubled last quarter to 8.7 million, while the number of merchants on its platform surged to 100,000 from 6,500 a year ago.

Affirm expects revenue of between $320 million and $330 million this quarter, higher than the expected $296.09 million. This is due to the BNPL market, which has set off a global boom in the past two years. McKinsey research shows that as of July this year, the BNPL market has diverted up to $10 billion in annual revenue from banks.

Editor✎Irene/

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