Affirm and Shopify announced an expanded partnership, cementing the BNPL provider's position as the “exclusive pay-over-time provider” for Shop Pay Installments in the US. The agreement also extends this exclusivity into Canada, with plans to enter the UK on the horizon.
This collaboration will enable Shopify merchants in Canada to offer Shop Pay Installments powered by Affirm at checkout in the coming months, with the option to to select from customized biweekly and monthly payment plans.
In 2020, Affirm partnered with Shopify to power Shop Pay Installments in the US, which has apparently been a success.
Shopify COO Kaz Nejatian said:
“Given the success of our long-standing partnership with Affirm in the U.S., bringing them to our merchants internationally is a no brainer. Affirm’s premier technology, world-class team, and commitment to transparency make them a natural fit to continue supporting merchants in the Shopify ecosystem, and we look forward to bringing this same value to our merchants in Canada, the U.K., and beyond.”
Affirm also powers BNPL for Amazon, Walmart, Target, eBay, Lowes, and many other major e-commerce platforms and marketplaces.
Does it ever feel like all the major retailers are collectively setting up Affirm to be left holding the bag on the inevitable BNPL consumer debt crash that's coming? Remember when Apple launched its own Apple Pay Later offering and then immediately was like, “Oh wait, this is dumb. Give that debt to Affirm…”