Affirm Stock Skyrockets After News of Amazon Deal

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Affirm&comma; which lets customers buy now and pay later at various retailers&comma; announced its flexible payment solution will soon be available to Amazon&period;com customers at checkout&period; News of the deal was announced after the market closed on Friday and sent shares of Affirm soaring 35&percnt; in after-hours trading&period;<&sol;p>&NewLine;<p>Amazon and Affirm are testing with select customers now&comma; and in the coming months&comma; Amazon plans to make Affirm more broadly available to its customers&period;<&sol;p>&NewLine;<p>Amazon is the leading Internet retailer with &dollar;67&period;5 billion in net sales in North America in its latest quarter&period;<&sol;p>&NewLine;<p>As a result of Amazon and Affirm&&num;8217&semi;s partnership&comma; select Amazon customers now have the option to split the total cost of purchases of &dollar;50 or more into simple monthly payments by using Affirm&period; Approved customers are shown the total cost of their purchase upfront and will never pay more than what they agree to at checkout&period; As always&comma; when choosing Affirm&comma; consumers will not be charged any late or hidden fees&period;<&sol;p>&NewLine;<p>The Affirm service will not be available on Amazon Fresh grocery orders or at Whole Foods stores&comma; an Amazon subsidiary&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;By partnering with Amazon we’re bringing the transparency&comma; predictability and affordability that Affirm provides today to the millions of people who shop on Amazon&period;com in the U&period;S&period;&comma;” said Eric Morse&comma; Senior Vice President of Sales at Affirm&period; &OpenCurlyDoubleQuote;Offering Affirm’s alternative to credit cards also delivers more of the payment choice and flexibility consumers on Amazon want&period;”<&sol;p>&NewLine;<p>Affirm also has pay-later deals with Walmart and Shopify&period; The company went public in January at &dollar;49 per share&period;<&sol;p>&NewLine;<p>The company was founded by CEO Max Levchin&comma; who was also one of the founders of PayPal&period;<&sol;p>&NewLine;