Claim that the shares appear after agreeing with Amazon a purchase agreement now to pay later

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“By partnering with Amazon, we bring the transparency, predictability, and affordability that Affirm provides to the millions of people who buy on Amazon.com in the United States,” said Eric Morse, senior vice president of sales at Affirm, in a press release.

“Offering Affirm’s alternative to credit cards also offers more payment options and flexibility that Amazon consumers want,” Morse added.

The companies also said in a press release that they were now implementing the program for some Amazon buyers, but that over the next few months “Amazon plans to make Affirm more widely available to its customers.”

Affirm, which was made public in January, is led by CEO and founder Max Levchin, who is also a co-founder of PayPal (PYPL).
Buy now, pay later to grow options online. But there are risks

The stock nearly doubled from its $ 49 bid price on the first day of trading and peaked at about $ 146 in February before returning to Earth. Shares are now trading around $ 96 after Monday’s release.

Affirm is a leader in the area of ​​ecommerce shopping now paid. But there is a lot of competition. Levchin’s former PayPal company is dipping its feet into the industry. PayPal rival Square (SQ) recently announced a $ 29 billion acquisition of Australian firm Afterpay for $ 29 billion.
There’s also Klarna, a Swedish startup currently valued at about $ 46 billion. This makes it the fourth most valuable privately owned unicorn in the world, according to CB Insights. Klarna only tracks Chinese owner TikTok Bytedance, Elon Musk’s Stripe and SpaceX payment processing company.

To claim it is now worth about $ 25 billion.

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