Affirm adds new BNPL options

The two new BNPL options extended, Pay in 2 and Pay in 30, are expected to provide Affirm’s customers with more choice and flexibility. Following their introduction, consumers will be able to divide the cost of their purchase into either two payments per month or to pay in full within 30 days of their purchase. In both cases, the payments are reportedly interest-free.

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.

Affirm is a network that specialises in extending payment options to consumers that are different from conventional credit cards or pay-over-time solutions. Earlier in 2024, the company announced its partnership with Canada-based online travel agency FlightHub and with vacation rental hospitality company Evolve.

Affirm adds Pay in 2 and Pay in 30 options