Finance
Confirm buy now, pay later loans coming later this year
Chris Ratcliffe | Bloomberg | Getty Images
Apple device users will soon be able to take advantage of ‘buy now, pay later’ loans To confirm for purchases, the companies said Tuesday.
Affirm will appear as an option for US Apple Pay users on iPhones and iPads later this year, the San Francisco-based fintech company said in a submit. Apple confirmed the news on its own update.
“This gives users additional payment choices and delivers the ease, convenience and security of Apple Pay in addition to the features users love in Affirm: flexibility, transparency and no late or hidden fees,” Affirm said in an emailed statement.
This move is a boost for Affirm and the buy now, pay later industry in general. When Apple introduced its own BNPL Product Last year, investors were concerned that the tech giant would crowd out independent providers like Affirm. But the fact that Apple has decided to also allow Affirm products into its ecosystem shows that the fintech company has something unique to offer.
Shares of Affirm rose 6% on Tuesday, while shares of Apple rose about 3%.
This story is developing. Check back later for updates.
