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Global newsletter: BNPL gains another major player in Amazon
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Global newsletter: BNPL gains another major player in Amazon

Global newsletter: BNPL gains another major player in Amazon

John K. White·
News Roundup
·Jun. 8, 2023·4 min read

The following is an excerpt from today’s Global Newsletter.

This morning’s featured news is from *cough* sorry, is from Amazon, who partnered with Affirm to offer *cough* wow, sorry again… just a second…

*Ahem, whoooooahhh, COUGH*

There we go. Wow, that smoke is really hitting all of the wrong places this morning.

Right, where was I? Oh yes, Amazon partnered with Affirm to offer BNPL to their North American customers. Any purchase over $50 qualifies for a 0% annual rate BNPL option. This is an FBD (“really” big deal, in fintech-speak).

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It did not take us long to expect BNPL options with our digital purchasing activities. For example, regardless of whether or not I have disposable income to cover non-staple purchases, I seek out the BNPL providers to keep my savings in my accounts longer and spread out the purchase pain over several months. Is it partly to improve my chances of avoiding buyer’s guilt? Maybe. 

No matter the motivation, it just makes sense for consumers, and vendors will likely tack on the expected fees to the selling price to recoup their side of the cost, much like they have done with Visa/Mastercard et al., for years.

Slide showing Amazon and Affirm logos

Featured

Share this article  North America
Amazon Pay taps Affirm to be its first buy now, pay later player
By Mary Ann Azevedo  
Amazon Pay has tapped Affirm to offer buy now, pay later options to consumers, the companies announced today.

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Digital payments won: Now what?
By Tom Bell   
Americans overwhelmingly prefer digital payments over cash establishing that embedded finance is the next frontier.
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Fintechs Kapital, Stori tap $115M with eyes on SMEs and underbanked in Mexico
By David Feliba   
Fintechs in Mexico draw funding to cater to underbanked SMEs and individuals. Kapital tapped $65 million, while Stori secured $50 million.

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  • John K. White
    John K. White

    John has been in communications since graduating from Creative Communications at Red River College Polytechnic in Winnipeg in 1992. He launched one of Canada's first digital-only local news sites called Winnipeg First in 2007, which led to digital editor postings with the Winnipeg Free Press and Edmonton Journal. In 2012 he joined Bankless Times as managing editor, later becoming president and CEO. He and the Bankless Media co-founders completed a sale and exit in August 2021.

    View all posts

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