Affirm Expands Shopify Partnership

Affirm Holdings Inc AFRM and Shopify Inc SHOP on Thursday announced an expanded global agreement.

What Happened: Affirm announced an expanded agreement with Shopify, making the company the exclusive pay-over-time provider for Shop Pay Installments in the U.S. and Canada. Affirm also noted that it plans to enter the U.K. in the near term.

“Given the success of our long-standing partnership with Affirm in the U.S., bringing them to our merchants internationally is a no brainer,” said Kaz Nejatian, COO of Shopify.

Eligible Shopify merchants in Canada will now be able to offer Shop Pay Installments powered by Affirm at checkout over the coming months. Approved customers will gain the ability to choose from customized payment plans.

Affirm founder and CEO Max Levchin noted that the company has seen strong global demand for its payment plans on Shopify-powered platforms.

Affirm reported fiscal second-quarter financial results earlier this month. The company’s active customer base grew 23% year-over-year to 21 million as gross merchandise volume jumped 35%. In a letter to shareholders, the company said, "Affirm is in the strongest shape it’s ever been.”

See Also: Alibaba Q3 Earnings: Revenue And EPS Beat, Eyes Global E-Commerce Profitability In FY25, Increase Investments In AI

AFRM Price Action: Affirm shares were down 3.43% at $73.76 at the time of publication Thursday, per Benzinga Pro.

Photo: courtesy of Affirm.