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Finance & Economics

Shopify partners US payment gateway for ‘buy now, pay later’ option

Jul 23, 2020

Shopify merchants in the US will soon offer this flexible payment option to their customers

buy now pay later

Shopify partners US payment gateway for ‘buy now, pay later’ option. Source: shutterstock.com

Affirm has announced it will power Shopify’s Shop Pay Installments in the US. According to the report, customers will be able to split their total purchase amount into 4 equal, bi-weekly, interest-free payments.

The US Shopify merchants who elect to offer Shop Pay Installments will receive the full purchase amount, fewer fees, and upfront.

With the acceleration of online spending, many small businesses must reinvent themselves. This includes embracing the rising importance of e-commerce strategies and meeting consumers, particularly young shoppers, where they are. By partnering with Shopify, the gold standard of commerce platforms for businesses that want to sell direct-to-consumers, we can help merchants seamlessly enable a pay-over-time option at checkout. In doing so, we’re helping them reach new customers, particularly Gen Z and Millennials, who are looking for more transparent and flexible ways to pay
Max Levchin, Founder and CEO of Affirm

Shop Pay Installments solution is expected to be available to the merchants starting later this year.

We’ve reported that Shopify and the Government of Canada?have launched?‘Go Digital Canada’ initiative to shift small businesses online.

Go Digital Canada is a central resource hub that enables?Canadian?entrepreneurs to launch their business online for free with an extended 90-day trial.

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