Affirm surges after Amazon adds it as Buy Now, Pay Later provider

Shares of Affirm (AFRM) surged after the company and Amazon (AMZN) announced an expanded partnership that makes Affirm the first pay-over-time option available at checkout on Amazon Business, a business-to-business store that helps businesses of all sizes digitize and automate procurement with powerful management controls and analytic tools-all within the familiar experience of Amazon. Now, these Amazon Business customers can split the total cost of eligible purchases and pay over time with Affirm without late or hidden fees. Amazon Business will start to roll out Affirm today to eligible sole proprietor businesses, and the new payment option will be available at checkout to all eligible Amazon Business sole proprietor customers by Black Friday. “We’re constantly striving to make Amazon Business the best place for small businesses to fulfill their buying needs. Integrating Affirm as a payment option helps us do just that, while providing more flexibility and convenience to our customers,” said Todd Heimes, director of Amazon Business Worldwide. “The technology, ease of integration, and ability to support a broad range of transactions-especially as Affirm is already used by millions of Amazon customers today-make this a natural extension of our larger partnership.” Shares of Affirm are nearly 20% higher in afternoon trading.