Amazon adds BNPL to its Amazon Business platform through Affirm partnership
Amazon has added buy now, pay later (BNPL) to its Amazon Business platform through the expansion of its partnership with Affirm, a POS financing and online payment solutions provider headquartered in San Francisco, US.
Amazon Business taps paytech Affirm for BNPL
Amazon Business, a B2B e-commerce procurement platform, will now provide its sole proprietor business customers the option to select Affirm at checkout to pay for eligible goods over time.
The platform says that it plans to make the payment option available to all eligible businesses by Black Friday (24 November).
Approved customers will in turn be able to access “customised pay-over-time options” on terms between three and 48 months.
Through its partnership with Amazon, Affirm is launching its new B2B BNPL solution, which has been built specifically to accommodate business purchases, having provided payment solutions for Amazon’s retail customers since 2021.
Wayne Pommen, Affirm’s chief revenue officer, claims that by providing “a transparent and flexible way to pay over time”, businesses stand to benefit from increased purchasing power, growth potential and better cash flow management.
According to Todd Heimes, director of Amazon Business Worldwide, “the technology, ease of integration, and ability to support a broad range of transactions make this a natural extension of our larger partnership”.
In February this year, Affirm, which was founded by PayPal’s Max Levchin, axed 19% of its workforce and several initiatives, including its Affirm Crypto unit, as it looked to cut costs amid “a period of increased economic uncertainty”.
