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Consumers with iPhones using the latest operating system now have access to Affirm Inc.’s installment-payments options when using Apple Pay at participating merchants.
Released Monday as part of Apple Inc.’s iOS 18 update for its iPhones, the payment option works with any merchant that accepts Apple Pay. The merchant does not have to have an integration with Affirm for the consumer to choose the buy now, pay later option. The service also is part of iPadOS 18.
Affirm replaces Apple Pay Later, Apple’s self-funded BNPL service that shut down in June, having launched in March 2023. It was announced in June 2022. Apple did not say why Apple Pay Later ended.
This June, Affirm, which has more than 300,000 direct merchant integrations on its platform and numerous integrations on other platforms, said it would be included in the iOS 18 update.
To use the service, a consumer shopping on a merchant’s site or app that accepts Apple Pay can tap “Other Cards & Pay Later Options” and select Affirm on eligible purchases. Users fill in the form and receive a real-time credit decision and then can choose a payment plan. If approved, the shopper sees customized biweekly and monthly payment plans with repayment schedules ranging from six week to 24 months. Once satisfied with the Affirm BNPL payment option, the shopper double clicks the iPhone side button and authenticates with Face ID or Touch ID.
“This integration combines the ease, convenience, and security of Apple Pay alongside the features users love in Affirm— flexibility, transparency and no late or hidden fees,” Vishal Kapoor, Affirm’s senior vice president of product, says in a statement.
Affirm has been surging, with a 48% increase in revenue for its fiscal fourth quarter ended June 30. Its transaction count totaled 24.7 million in the quarter, up 42% year-over-year.
