Affirm announced a multi-year extension of its partnership in the U.S. with Shopify, a provider of essential internet infrastructure for commerce. The agreement cements Affirm as the exclusive pay-over-time provider for Shop Pay Installments in the U.S. In connection with the extended agreement, all eligible U.S. merchants offering Shop Pay Installments will have access to Affirm's Adaptive Checkout(TM), a first-of-its-kind product in the U.S., which dynamically offers biweekly and monthly payment options side-by-side in a single integrated checkout. Since its launch in June 2021, Shop Pay Installments, powered by Affirm in the U.S., has enabled more than 100,000 Shopify merchants to seamlessly offer millions of consumers the ability to split purchases up to $3,000 into four interest-free biweekly payments with no fees.

Beginning this summer, Shop Pay Installments will add Affirm's Adaptive Checkout(TM), enabling eligible merchants to offer the only optimized payment options in the U.S. -- from interest-free biweekly payments to monthly simple interest-bearing installments. As a result, buyers will be able to use Shop Pay Installments for cart sizes that range from $50 to $17,500, with payment terms ranging from six weeks to 12 months.