Affirm (AFRM), a payment network, and Shopify (SHOP), an e-commerce infrastructure provider, have expanded their partnership globally. As a result, Affirm will be the exclusive pay-over-time provider for Shop Pay Installments in the U.S., Canada, and soon, the UK.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
The partnership is expected to benefit Shopify merchants by providing their customers with flexible payment options. Shop Pay Installments offers customized payment plans with rates as low as 0% APR and term lengths of up to 24 months, which makes it an attractive solution for consumers. This payment option has already gained traction in the U.S., with millions of consumers using it across Shopify’s extensive merchant network.
As part of the expanded partnership, eligible Shopify merchants in Canada will be able to offer Shop Pay Installments to their customers in the coming months. Affirm CEO Max Levchin highlighted that the partnership has the potential to drive growth for merchants worldwide by providing innovative payment solutions that meet the evolving needs of consumers and merchants.
Which Stock Is the Better Buy?
Turning to Wall Street, out of the two stocks mentioned above, analysts think that SHOP stock has more room to run than AFRM. In fact, SHOP’s price target of $131.72 per share implies almost 8% upside versus AFRM’s 4.91%.
