Amazon will soon allow its customers to use the buy-now-pay-later option that doesn’t involve credit cards.
Affirm Holdings Inc. has announced that its flexible payment service will soon be available on Amazon.com. “Amazon and Affirm are testing with select customers now, and in the coming months, Amazon plans to make Affirm more broadly available to its customers,” the company said in its statement.
Earlier this month, digital payments company Square Inc. acquired Afterpay, which provides a buy-now-pay-later option for merchants.
Installment plans are popular with retailers because they encourage customers to spend more money. And they enable customers with insufficient funds or credit at the time of purchase to walk out of a store – or check out online – with the item they want.