Affirm and Shopify launched Shop Pay Installments in Australia, where approved shoppers can split a purchase into fortnightly or monthly payments on either an interest-free or an interest-bearing plan, with no late fees. Australia becomes the fourth market for the product after the US, Canada, and the UK, and merchants turn it on from the Shopify admin. The launch puts Affirm back in a country it walked away from in February 2023, when it wound down its Australian business barely a year after entering through a Peloton deal. Credit is issued by Affirm Australia under an Australian Credit Licence, with Shop Pay operating as its credit representative through a Shopify entity in Singapore, and Affirm underwrites each transaction with a real-time decision on the shopper’s ability to repay.
