27
Key Takeaways
- Affirm Holdings shares gained Tuesday when Apple announced that the fintech firm’s buy now, pay later loans would be available to users of Apple Pay.
- The tech giant explained that Affirm’s BNPL would be available along with other updated Apple services in the fall.
- Affirm said teaming with Apple provides its users additional payment choices and gives them the benefits of Apple Pay.
Affirm Holdings ( AFRM ) shares jumped Tuesday after Apple ( AAPL ) announced the company’s buy now, pay later (BNPL) loans would be available for Apple Pay users.
The news came as Apple unveiled new features for its Apple Services, including Apple Maps, Cash, Wallet, and Fitness+, as well as Apple Pay. Apple explained those would be available this fall along with the release of its iOS 18, iPadOS 18, macOS Sequoia, watchOS 11, visionOS 2, and tvOS 18.
In an email sent to Investopedia, Affirm said, “We’re excited to share that US users checking out online or in-app with Apple Pay on iPhone and iPad will be able to apply to pay over time for eligible transactions with Affirm. This provides users with additional payment choices, and offers the ease, convenience and security of Apple Pay.” The company noted that it would be providing more details in the future.
Partnership Not Seen Having ‘Material Impact’ on Affirm’s FY25 Revenue
Affirm said in a Securities and Exchange Commission (SEC ) filing that it “does not expect this partnership to have a material impact on revenue or gross merchandise volume in fiscal year 2025.”
Shares of Affirm Holdings rose 4.6% to $31.84 as of 11:42 a.m. ET Tuesday but remain about 35% lower in 2024.