Affirm has expanded its global agreement with Shopify by extending pay-over-time services to new markets.
The multi-year deal positions Affirm as the “exclusive pay-over-time provider” of Shop Pay Instalments in the US and Canada, Shopify’s home market, with plans to launch in the UK.
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This collaboration will enable eligible Shopify merchants in Canada to offer Shop Pay Instalments powered by Affirm at checkout in the coming months.
Customers will have the option to select from customised biweekly and monthly payment plans.
It features rates “as low as 0% APR”, terms up to 24 months, and “no late or hidden fees”, the company stated.
Since its launch in 2021, millions of US merchants have started offering Shop Pay Instalments to customers.
In 2020, Affirm partnered with Shopify to power Shop Pay Instalments, offering its buy now, pay later option to eligible US merchants.
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 founder and CEO Max Levchin stated: “Five years ago, Shopify and Affirm teamed up to create a bespoke payment solution that helps all kinds of businesses thrive by giving their customers more choice and flexibility. Since then, millions of consumers in the U.S. have relied on the value Shop Pay Instalments offers, and we’ve heard from merchants all over the world who are clamoring for the growth potential it provides.”
Last month, the company partnered with FIS to become its integrated pay-over-time provider for debit issuers.
In December 2024, Affirm broadened its partnership with fintech firm Adyen, offering a Buy Now, Pay Later option to Adyen for Platforms.
