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Amazon Inc

$Affirm Holdings (AFRM.US)$ Amazon.com Inc. is collaborating with Affirm Holdings Inc., allowing customers to purchase goods on a monthly installment plan, marking further growth in the buy now, pay later sector. As a partner with large e-commerce companies like Amazon, Affirm's stock price surged by 30%, to around $88, a few hours later. The company sold stocks at a price of $49 per share in its initial public offering in January. Affirm's other partners include Walmart Inc., Expedia Group Inc., and Peloton Interactive Inc. Amazon stated that it is testing Affirm's buy now, pay later option with some customers and plans to use this method more widely in the coming months. Installment payments are becoming increasingly popular during the pandemic as many consumers are unwilling to take on credit card debt. Earlier this month, payment provider Square Inc. agreed to acquire Australian fintech company Afterpay Ltd. in an all-stock deal worth around $29 billion. In addition to Affirm and Afterpay, other players in this field include Klarna Bank AB and PayPal Holdings Inc., the latter of which launched buy now, pay later products last year. Affirm reported a 67% revenue growth to $0.2307 billion and a 64% increase in active consumers to 5.4 million by the end of the March quarter. Affirm will release its fourth-quarter earnings on September 9th.
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