Amazon Business Adds Affirm as First Buy Now, Pay Later Provider at Checkout
03 November 2023 - 12:00AM
Business Wire
Partnership brings Affirm’s transparent,
flexible, pay-over-time option to eligible sole proprietors
Today, Amazon (NASDAQ:AMZN) and Affirm (NASDAQ: AFRM) announced
an expanded partnership that makes Affirm the first pay-over-time
option available at checkout on Amazon Business, a
business-to-business (B2B) store that helps businesses of all sizes
digitize and automate procurement with powerful management controls
and analytic tools—all within the familiar experience of Amazon.
Now, these Amazon Business customers can split the total cost of
eligible purchases and pay over time with Affirm without late or
hidden fees. Amazon Business will start to roll out Affirm today to
eligible sole proprietor businesses, and the new payment option
will be available at checkout to all eligible Amazon Business sole
proprietor customers by Black Friday.
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“We’re constantly striving to make Amazon Business the best
place for small businesses to fulfill their buying needs.
Integrating Affirm as a payment option helps us do just that, while
providing more flexibility and convenience to our customers,” said
Todd Heimes, director of Amazon Business Worldwide. “The
technology, ease of integration, and ability to support a broad
range of transactions—especially as Affirm is already used by
millions of Amazon customers today—make this a natural extension of
our larger partnership.”
This marks the launch of Affirm’s new B2B pay-over-time solution
dedicated to serving sole proprietors. By selecting Affirm at
checkout on Amazon Business and entering a few simple pieces of
information, such as registered business name and business address,
small business owners will receive an instant credit decision. If
approved, they can select from customized pay-over-time options of
three to 48 months with the confidence that they will never pay
more than the amount agreed to upfront. For example, a $200
purchase at 15% APR would cost a customer $34.81 per month for six
months, totaling $208.84.
“According to the IRS1, more than 28 million sole
proprietorships do business in the United States. By offering these
business owners a transparent and flexible way to pay over time for
the items they need, we can help them increase their purchasing
power, better manage their cash flow, and accelerate their growth,”
said Wayne Pommen, Affirm’s Chief Revenue Officer. “We’re
incredibly proud to be bringing this buy now, pay later payment
option to the millions of sole proprietors shopping on Amazon
Business.”
Since first launching on Amazon.com and the Amazon mobile app in
2021, Affirm expanded to Amazon.ca in 2022, and was directly
integrated as a payment option on Amazon Pay earlier this year.
Customers looking to use Affirm through Amazon Business can do so
using the Amazon Business website and Amazon Business mobile app.
Learn more here.
About Affirm
Affirm’s mission is to deliver honest financial products that
improve lives. By building a new kind of payment network — one
based on trust, transparency and putting people first — we empower
millions of consumers to spend and save responsibly, and give
thousands of businesses the tools to fuel growth. Unlike most
credit cards and other pay-over-time options, we show consumers
exactly what they will pay up front, never increase that amount,
and never charge any late or hidden fees. Follow Affirm on social
media: LinkedIn | Instagram | Facebook | Twitter.
About Amazon Business
Amazon Business helps millions of customers worldwide—from small
businesses, schools, hospitals, nonprofits, and government agencies
to large enterprises with global operations—reshape their
procurement with cost and time savings, greater productivity, and
insightful purchasing analytics. Procurement and business leaders
enjoy convenient shipping options on hundreds of millions of
supplies across categories like office, IT, janitorial, food
service, and professional medical supplies. Customers also have
access to a variety of business-tailored features and benefits,
including a curated site experience, Business Prime, business-only
pricing and selection, single- or multi-user business accounts,
approvals workflow, purchasing system integrations, payment
solutions, tax exemptions, and dedicated customer support. Amazon
Business is currently available in the United States, Canada, the
United Kingdom, Germany, France, Italy, Spain, Japan, and India.
For more information, visit business.amazon.com,
www.amazonbusinessblog.com, and @AmazonBusiness.
1
https://www.irs.gov/statistics/soi-tax-stats-nonfarm-sole-proprietorship-statistics
Payment options through Affirm are subject to eligibility, and
are provided by these lending partners: affirm.com/lenders. CA
residents: Loans by Affirm Loan Services, LLC are made or arranged
pursuant to California Finance Lender license 60DBO-111681.
AFRM-F
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version on businesswire.com: https://www.businesswire.com/news/home/20231102326725/en/
Press Affirm Alex Rafter press@affirm.com
Investor Relations Affirm ir@affirm.com
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