Amazon partnered with Affirm in August 2021, allowing members to use “buy now, pay later” during Prime Day. In June 2023, Affirm was integrated with Amazon Pay, making it the first BNPL service available directly through Amazon Pay. This streamlined the payment process for merchants and shoppers, eliminating the need for a separate approval process. Adobe Analytics noticed a 13% increase in BNPL utilization during Prime Day 2022 compared to the previous year. Affirm charges interest rates ranging from 0 to 30% APR, based on credit and the number of payments selected. It is wise to use BNPL services for big purchases and manage payments responsibly, while small impulse purchases can lead to debt.
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