Australia – Affirm and Shopify have expanded their global partnership with the launch of Shop Pay Installments in Australia, giving eligible shoppers the option to spread payments over time.
The service is powered exclusively by Affirm and is available through the Shop Pay checkout option on participating Shopify merchants.
The Australian launch marks Affirm’s return to the market and extends its partnership with Shopify to Australian merchants.
“Australians helped shape Buy Now, Pay Later as we know it, which is why we expect more from it than most. In partnership with Shopify, Affirm built Shop Pay Installments for the future – a way to pay with even more flexible terms and no late fees, ever,” said Nitin Kashid, Australia Country Manager at Affirm.
Under the service, eligible customers can split purchases into fortnightly or monthly payments. Depending on eligibility, shoppers can choose between interest-free and interest-bearing payment plans, with the payment terms shown before they complete a purchase.
Affirm assesses each transaction individually and makes a real-time credit decision based on the shopper’s ability to repay. The company said its model does not include late fees, account fees or compounding interest.
For Shopify merchants in Australia, Shop Pay Installments can be enabled through the Shopify admin dashboard. The companies said the payment option is intended to give businesses another way to offer customers instalment payments at checkout.
“Shop Pay is the world’s highest-converting checkout, adopted by over 250 million buyers globally. With Affirm, our merchants can extend that value by offering consumers a simple, fast, and trusted way to pay over time,” said Rohit Mishra, VP of Product, Payments and Cross-Border at Shopify.
“Bringing Shop Pay Installments to Australia unlocks even more flexibility and choice, helping our merchants continue to meet consumers where they are and how they like to shop,” he continued.
Shopify and Affirm said they plan to continue expanding Shop Pay Installments into additional markets where merchants and consumers are seeking pay-later payment options.
