Shopify and Affirm Announce Global Expansion of Shop Pay Installment Services

Shopify and Affirm Announce Global Expansion of Shop Pay Installment Services

Affirm and Shopify Announce Global Expansion of Shop Pay Installments

Affirm Holdings, Inc. and Shopify have unveiled plans to extend their Shop Pay Installments service beyond the United States, marking a significant milestone in their ongoing partnership. This strategic move aims to provide consumers and merchants in multiple countries with flexible payment options, enhancing the global e-commerce experience.

Initial Launch in Canada

The expansion begins with early access for Shopify merchants in Canada, allowing them to offer Pay Installments to their customers. This marks the first time the service is available outside the U.S., representing a pivotal step in Affirm and Shopify’s international growth strategy. citeturn0search0

Upcoming Availability in the U.K. and Cross-Border Capabilities

Following the Canadian launch, Pay Installments will become generally accessible to Shopify merchants in both Canada and the United Kingdom during the summer. Subsequent plans include enabling cross-border commerce capabilities between the U.S., Canada, and the U.K., facilitating seamless transactions for merchants and consumers across these regions. citeturn0search1

Further Expansion Plans

Affirm and have outlined intentions to extend Pay Installments to additional markets, including Australia and Western Europe, starting with France, Germany, and the Netherlands. This broader rollout aims to cater to the growing demand for flexible payment solutions in these regions. citeturn0search1

Statements from Company Executives

Kaz Nejatian, Chief Operating Officer of Shopify, expressed enthusiasm about the expansion:

“We’re thrilled to launch Pay Installments in early access to Canada as our first step beyond the U.S. Our partnership with Affirm expands our global reach, giving the flexibility to pay over time and drives higher conversion rates for merchants worldwide.” citeturn0search1

Max Levchin, Founder and CEO of Affirm, highlighted the partnership’s focus on merchant empowerment:

“From day one, Affirm’s partnership with Shopify has been focused on empowering merchants to succeed by offering transparent, flexible payments that unlock purchasing power for consumers. Millions of shoppers in the U.S. trust and rely on Pay Installments. Today’s launch in Canada marks an exciting first step as we further extend our global presence.” citeturn0search1

Seamless Integration for Merchants

As Pay Installments launches in each new market, local merchants can activate the product directly from their admin dashboard without additional development or technical integration. This streamlined process ensures that merchants can quickly offer flexible payment options to their customers. citeturn0search1

Benefits for Consumers

Customers will have the ability to split eligible purchases into biweekly and monthly payments. Upon approval, shoppers can choose from customized payment plans, with rates as low as 0% APR, and will not encounter late or hidden fees. This approach aligns with Affirm’s commitment to transparent and consumer-friendly financial products. citeturn0search1

Proven Success in the U.S.

Since its launch in 2021, Pay Installments has seen widespread adoption, with millions of consumers actively utilizing this payment method across extensive U.S. merchant network. The expansion into new markets aims to replicate this success on a global scale. citeturn0search1

About Affirm

Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network based on trust, transparency, and putting people first, Affirm empowers millions of consumers to spend and save responsibly, providing businesses with tools to fuel growth. Unlike most credit cards and other pay-over-time options, Affirm does not charge any late or hidden fees. citeturn0search1

About Shopify

Shopify is a leading global commerce company providing essential internet infrastructure for commerce. Offering trusted tools to start, scale, market, and run retail businesses of any size, makes commerce better for everyone with a platform and services engineered for speed, customization, reliability, and security. powers millions of businesses in more than 175 countries and is trusted by brands such as BarkBox, Vuori, BevMo, Carrier, JB Hi-Fi, Meta, ButcherBox, SKIMS, Supreme, and many more. citeturn0search1

This strategic expansion of Pay Installments reflects Affirm and Shopify’s commitment to enhancing the global e-commerce landscape by providing flexible, transparent payment solutions that benefit both merchants and consumers.

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