(Bloomberg) — Affirm Holdings Inc. reached a deal to put its “buy now, pay later” options on millions of Verifone payment devices and online checkout systems.
The agreement will allow retailers to give consumers in the U.S. access to Affirm’s offerings, including biweekly and monthly payments, the companies said Tuesday in a statement. The firms plan to eventually expand their partnership worldwide.
“Buy now, pay later” options have grown in popularity in recent years, fueled in part by startups such as Affirm and Afterpay Ltd. Affirm, led by Chief Executive Officer Max Levchin, agreed to a deal with Amazon.com Inc. last year to help customers finance their purchases.
“We predict that the buy now, pay later market will continue to see rapid growth as more consumers use and gain trust in their preferred wallets, and as merchants expand their payment acceptance to cater to consumer demand,” Jeremy Belostock, Verifone’s head of advanced payment methods, said in the statement.
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