Affirm has expanded its global partnership with Shopify to launch Shop Pay Installments in Australia, offering Australian merchants and shoppers a flexible pay-over-time option with no late fees. The service, powered exclusively by Affirm, lets eligible shoppers split purchases into fortnightly or monthly payments, choosing between interest-free or interest-bearing plans with upfront disclosure. Since its 2021 launch, Shop Pay Installments has facilitated billions of dollars in purchases across the US, Canada, and the UK, becoming one of Shopify's most popular payment options. The launch marks Affirm's return to Australia, with the company underwriting each transaction individually and charging no late fees, account fees, or compounding interest. Shopify's Australian merchants can enable the feature in a few clicks through the Shopify admin dashboard, potentially boosting conversion and basket sizes, as over 90% of Affirm purchases in North America come from repeat customers.
Affirm Holdings IncAffirm powers Shop Pay Installments in Australia, expanding its market and potential transaction volume.
Shopify IncShopify merchants gain a popular payment option, potentially boosting conversion and basket sizes.
