Through this partnership, Amazon will add Affirm as the initial pay-over-time option for purchases made on Amazon Business, which is a platform designed to facilitate the digitalisation and automation of procurement processes for businesses. This integration aims to enhance flexibility for Amazon Business customers, enabling them to split the total cost of eligible purchases and make payments over a specified period through Affirm without incurring late or hidden fees.
Through this partnership, Amazon Business will gradually implement Affirm as a payment option for eligible sole proprietor businesses. The company aims to make this payment alternative available for all eligible Amazon Business sole proprietor customers by Black Friday 2023. Officials from Amazon Business Worldwide emphasised the commitment to making Amazon Business a favourable destination for small businesses to meet their procurement requirements.
They noted that the integration of Affirm as a payment option aligns with this objective, offering enhanced convenience and adaptability to customers. The seamless integration of Affirm into Amazon Business is facilitated by the technology's ease, its capacity to support a wide array of transactions, and its existing user base among Amazon customers.
This collaboration also marks the introduction of Affirm's B2B pay-over-time solution tailored for sole proprietors. To utilise Affirm as a payment method on Amazon Business, small business owners can select Affirm during the checkout process and provide essential business information, such as the registered business name and address. Following this, they will receive an immediate credit decision. If approved, customers can choose from a range of pay-over-time options, spanning three to 48 months, with the assurance that the final cost will not exceed the upfront agreement.
Amazon cited tata from the IRS and reported that over 28 million sole proprietorships operate in the United States. By extending an adaptable payment solution for these businesses, Affirm and Amazon Business aim to provide them with increased purchasing capabilities, improved cash flow management, and better growth opportunities.
Affirm initially launched on Amazon.com and the Amazon mobile app in 2021. Since then, it has expanded to Amazon in Canada in 2022 and was directly integrated as a payment option on Amazon Pay earlier in 2023. Customers seeking to use Affirm on Amazon Business can do so through the Amazon Business website and the Amazon Business mobile app.
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