Affirm and Shopify have collaborated to boost Shop Pay Installments globally.
Takeaway Points
- Affirm and Shopify have collaborated..
- The aim is to boost Shop Pay Installments globally.
- Shopify merchants in Canada with early access can now offer Shop Pay Installments, powered by Affirm, to shoppers, marking the product’s first availability outside the U.S.
Affirm and Shopify Collaborate
Affirm, the payment network that empowers consumers and helps merchants drive growth, on Wednesday announced the acceleration of their global expansion plans with Shopify, a provider of essential internet infrastructure for commerce. Shopify merchants in Canada with early access can now offer Shop Pay Installments, only powered by Affirm, to shoppers, marking the product’s first availability outside the U.S.
Kaz Nejatian, COO of Shopify, while commenting about the partnership, said, “We’re thrilled to launch Shop Pay Installments in early access to Canada as our first step beyond the U.S. Our partnership with Affirm expands our global reach, giving shoppers the flexibility to pay over time, and drives higher conversion rates for merchants worldwide.”
Max Levchin, Founder and CEO of Affirm, said, “From day one, Affirm’s partnership with Shopify has been focused on empowering merchants to succeed by offering transparent, flexible payments that unlock purchasing power for consumers. Millions of shoppers in the U.S. trust and rely on Shop Pay Installments. Today’s launch in Canada marks an exciting first step as we further extend our global presence – first with Shopify merchants, and soon after with our integrated merchants across the U.K., Europe, and Australia.”
Shop Pay Installments
According to the report, this summer, shop pay installments will be available and accessible to Shopify merchants in Canada and the U.K. with cross-border commerce capabilities between the U.S., Canada, and U.K. to follow.
Customers will be able to apply to divide eligible purchases into biweekly and monthly payments. If approved, shoppers can select from customized payment plans, with rates as low as 0 percent APR, and they will never encounter late or hidden fees, Affirm said.
The companies plan to expand to Australia and Western Europe next, starting with France, Germany, and the Netherlands, based on the report.
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—they 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, they never charge any late or hidden fees.
About Shopify
Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. The makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store, and everywhere in between.
Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as BarkBox, Vuori, BevMo, Carrier, JB Hi-Fi, Meta, ButcherBox, SKIMS, Supreme, and many more.
