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Affirm is now Amazon's exclusive 'buy now, pay later' partner in the US

The pay-later provider announced the expansion of its Amazon deal as it revealed strong earnings Wednesday.

​Affirm CEO Max Levchin

Affirm is deepening its relationship with Amazon.

Photo: Affirm

Affirm has deepened its ties with Amazon in a boost for the "buy now, pay later" company ahead of the holiday season, the company revealed Wednesday as it also announced strong third-quarter earnings.

Affirm is now the exclusive U.S. pay-later provider for Amazon until Jan. 31, 2023, under terms of the deal. Amazon also gets warrants for Affirm's stock.

An Affirm pay-later option will be available for any purchases of $50 or more on Amazon in the U.S. The exclusivity doesn't cover pay-later purchases billed on a credit card; Amazon and Citi have such a deal which predates the Affirm relationship.

The deeper connections between the two companies, first announced in August, give Amazon a pay-later partner to roll out across its site. For Affirm, it opens up a massive distribution channel.

The news came as part of Affirm's quarterly earnings announcement, which showed gross merchandise volume of $2.7 billion, up 84% from the year-ago period, and revenue of $267 million, up 57% from a year ago. Active customers were up 124% to 8.7 million.

Affirm shares were up 23% after hours.

Tomio Geron

Tomio Geron ( @tomiogeron) is a San Francisco-based reporter covering fintech. He was previously a reporter and editor at The Wall Street Journal, covering venture capital and startups. He was also as a staff writer at Forbes covering social media and venture capital, and edited the Midas List of top tech investors. He can be reached at tgeron@protocol.com or tgeron@protonmail.com.

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