Amazon Inc
$Affirm Holdings (AFRM.US)$ Amazon.com Inc. is partnering with Affirm Holdings Inc., to allow customers to purchase products in monthly installments, which marks further growth in the buy-now-pay-later sector. Partnering with large e-commerce companies such as Amazon, Affirm's stock soared 30% to around $88 a few hours later. The company sold shares in its January initial public offering for $49 per share. Affirm's other partners include Walmart Inc., Expedia Group Inc., and Peloton Interactive Inc. Amazon says it's testing Affirm's buy now pay later option with some customers and will be using the method more widely over the next few months. Installment options have grown in popularity during the pandemic, as many consumers are reluctant to take on credit card debt. Earlier this month, payments provider Square Inc. agreed to acquire Australia-based fintech company Afterpay Ltd., in an all-stock deal worth around $29 billion. In addition to Affirm and Afterpay, other players in the space include Klarna Bank AB and PayPal Holdings Inc., which launched a buy now pay later product last year. Affirm said that by the end of the March quarter, revenue had increased 67% to $2307 million, and active consumers had grown 64% to 5.4 million. Affirm will release fourth-quarter results on September 9.
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Assama Mohammad : thanks for sharing