Buy Now, Pay Later (BNPL) provider Affirm has brought its partnership with Shopify to Canada in an extension of its global management.
The multi-year partnership will now see the duo cement its position in Canada to offer Affirm’s pay-over-time Shop Pay installment-based payments on the Shopify platform.
In the coming months, Shopify merchants in Canada will be able to integrate Shop Pay installments at the checkout to approved customers, enabling them flexibility with how they pay with biweekly and monthly payment plans, with 0% APR and the option to extend up to 24 months.
Having consolidated its position in the US e-commerce sector, Affirm and Shopify confirmed that they intend to expand the Shop Pay solution into the UK.
Kaz Nejatian, COO of Shopify, said: “Given the success of our long-standing partnership with Affirm in the US, bringing them to our merchants internationally is a no brainer.
“Affirm’s premier technology, world-class team, and commitment to transparency make them a natural fit to continue supporting merchants in the Shopify ecosystem, and we look forward to bringing this same value to our merchants in Canada, the UK, and beyond.”
Since launching Shop Pay in 2021, Shopify has seen increased adoption rates amongst “millions of consumers” across its merchant network in the US.
While enabling merchants to grant increased payment flexibility to its customers, the solution also seeks to help boost conversion rates across channels by accelerating the checkout process through one tap.
Shop Pay can also be integrated into many digital platforms and social media platforms, such as TikTok and Instagram. Buyers can also track orders from within the Shop app, as well as gaining a 9% increase on repurchase rates.
Max Levchin, Founder and CEO of Affirm, added: “Five years ago, Shopify and Affirm teamed up to create a bespoke payment solution that helps all kinds of businesses thrive by giving their customers more choice and flexibility.
“Since then, millions of consumers in the US have relied on the value Shop Pay Installments offers, and we’ve heard from merchants all over the world who are clamouring for the growth potential it provides. We’re excited to deliver on that promise and continue our international expansion.”
