Since our founding, Affirm has been focused on delivering honest financial products that improve lives.
Today, we are taking a big step forward to expand the reach of our mission by making Shop Pay Installments, exclusively powered by Affirm, available to all eligible Shopify merchants in the United States.
We are thrilled to support these hundreds of thousands of unique merchants by providing access to unparalleled technology that can help grow their businesses. One in four merchants that used Shop Pay Installments during its early access saw 50% higher average order volume compared to other payment methods.
Shop Pay Installments doesn’t just enable merchants to provide buyers with a more flexible and transparent way to pay, but it also provides unparalleled speed and ease of integration. Unlike other buy now, pay later solutions, Shop Pay Installments avoids sending buyers offsite to complete their purchase. Merchants saw 28% fewer abandoned carts through Shop Pay Installments after switching from a third-party buy now, pay later solution.
We have custom-built Shop Pay Installments for Shopify’s merchants and their millions of buyers. As of today, merchants who sign up for Shop Pay will automatically have our powerful product enabled, and merchants who already use Shop Pay can activate Shop Pay Installments in just a few simple clicks, starting here.
Building and launching Shop Pay Installments would not have been possible without the hard work and collaboration between the Affirm and Shopify teams. Over the past year, we have been deeply engaged in integrating our systems and technology. Together, we have taken a complex technical problem and built a simple, easy to use tool to help businesses of all sizes and in many verticals thrive.
All businesses regardless of size deserve access to tools that can help them succeed. I am excited for Affirm and Shop Pay Installments to bring greater payment flexibility and transparency to millions more people.
Payment options through Shop Pay Installments are offered by Affirm, are subject to an eligibility check, and may not be available in all states. CA residents: Loans by Affirm Loan Services, LLC are made or arranged pursuant to a California Finance Lender license.