Affirm (AFRM) announced that it has expanded its relationship with Amazon (AMZN). Affirm said it will be generally available to support all eligible purchases of $50 or more on Amazon.com and the Amazon shopping app in the United States. Consumers will have the option to split the total cost of eligible purchases into monthly payments at checkout with no late or hidden fees, ever. As part of an amended agreement, Affirm will serve as Amazon’s only third party, non credit card, buy now, pay later option in the U.S. Until January 2023, Amazon will be subject to certain restrictions on providing other installment products in the U.S. by other BNPL providers. Affirm will also be integrated into Amazon Pay’s digital wallet in the U.S. In conjunction with the amended agreement, Amazon will receive multiple tranches of warrants to purchase shares of Affirm’s class A Common Stock, some of which are subject to satisfaction of certain performance obligations and vesting conditions.
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