Affirm and Shopify Launch Shop Pay Installments in Canada: A Groundbreaking Global Expansion
In a significant move for the e-commerce landscape, Affirm, a leading payment network in the U.S., has expanded its strategic partnership with Shopify to introduce flexible payment options in new international markets. This collaboration marks the global launch of Shop Pay Installments, a buy now, pay later (BNPL) service powered exclusively by Affirm.
Expansion of Shop Pay Installments
Shop Pay Installments, which was previously available only in the United States, is now being rolled out to select Shopify merchants in Canada as part of an early access program. The companies have ambitious plans to extend this service to all Shopify merchants in Canada and the UK by summer. Following these launches, they will introduce services in Australia and Western Europe, including countries like France, Germany, and the Netherlands.
History of Collaboration
Since its inception in 2021, the partnership between Affirm and Shopify has focused on enhancing merchant capabilities by providing tools designed to boost conversion rates and average order values. By expanding Shop Pay Installments to international markets, both companies aim to scale these advantages on a global scale.
Benefits of Using Shop Pay Installments
- Consumers can split purchases into customized payment plans.
- No late fees or hidden charges.
- Interest rates as low as 0% APR.
- Financing options available for purchases ranging from $35 to $30,000.
With seamless integration into Shopify’s robust e-commerce platform, local merchants can easily activate Shop Pay Installments through their admin dashboards without any technical development required. Approved customers can choose between biweekly and monthly payment plans at checkout.
Global Growth Strategy
The expansion into international markets signifies a major milestone in Affirm’s growth strategy. The company intends to engage with regional partners, regulators, and stakeholders in each new territory to enhance service delivery.
Statements from Leadership
Shopify’s Chief Operating Officer, Kaz Nejatian, expressed enthusiasm about the launch in Canada, stating, “Our partnership with Affirm expands our global reach, providing shoppers with flexible payment options while driving higher conversion rates for merchants worldwide.”
Max Levchin, Affirm’s founder and CEO, emphasized the focus of their collaboration on empowering merchants. “Millions of shoppers in the U.S. trust and rely on Shop Pay Installments. Today’s launch in Canada marks an exciting first step as we further extend our global presence,” he said.
For more information on Affirm’s services, visit their official website at www.affirm.com. To explore Shopify’s e-commerce solutions, check out www.shopify.com.
