US-based payment network Affirm has added two new Buy Now, Pay Later (BNPL) options.
According to the official press release, the two new BNPL options will be featured in Affirm’s app in addition to the already Pay in 4 and monthly instalments choices currently available. In the upcoming months, the payment network plans to roll out the Pay in 2 and Pay in 30 options more broadly to its merchant partners.
When explaining the reasoning behind their decision to extend new payment options, an official from Affirm emphasised that, in the US, 80% of ecommerce transactions are for purchases under USD 150. The two new payment solutions are designed to better meet customer expectations and cater to their spending needs, whilst allowing them to make both large and small purchases.
According to Statista, between 2022 and 2027, the number of worldwide BNPL users is anticipated to grow by 150%. By 2027, Juniper Research estimates that the number of global BNPL users will reach 900 million.
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