Affirm Holdings has announced a partnership with Amazon Pay, sending the stock of the buy-now-pay-later firm soaring over 20% on Wednesday.
The deal will allow merchants who use Amazon Pay to offer Affirm’s “Adaptive Checkout” which allows customers to pay their bills over time.
Affirm stock had been down about 35% over the last year, and down about 80% since its January 2021 initial public offering.
Wednesday’s announcement is an extension of a partnership with Amazon that stems back to 2021. Affirm also partners with the likes of Shopify, Walmart, and Target.
