Bloomberg has a story about how Amazon has signed a deal with Affirm Holdings that will enable the retailer "to help consumers finance large purchases" and "pay off splurges greater than $50 in monthly installments."
According to the story, "The companies already began testing with select customers and will make the option more broadly available in the coming months."
Two interesting things about this from the Bloomberg story:
• "Affirm is part of the growing bevy of startups that help consumers split up purchases into smaller installments. The options have exploded in popularity in the U.S. in recent months, especially among younger consumers. Americans spent as much as $25 billion using the plans in 2020 alone."
• “If Affirm captures just 1% of Amazon.com’s North America sales through this deal, it could add over $900 million, or 10%, to revenue.