Connect with us

Hi, what are you looking for?

Tradings Insight HubTradings Insight Hub

Business News

Affirm announces JPMorgan Chase merchants can now offer installment loans at checkout

Fintech lender Affirm said Tuesday that it’s reached an agreement with JPMorgan Chase to offer its buy now, pay later loan services to merchants on the bank’s payments network.

U.S. merchants who use JPMorgan to handle payments can soon add Affirm to their checkout pages, according to a release. Consumers will have access to loans ranging from 30 days to 60 months, according to Affirm.

The deal follows a similar announcement from rival Klarna last month, in which the Swedish fintech said it would be available to JPMorgan’s merchants. Affirm and Klarna are increasingly going head-to-head as the buy now, pay later field matures in the U.S.; Affirm is publicly traded and seeking to steadily grow profits, while Klarna recently filed for a U.S. IPO.

“The demand for diverse payment options, flexibility, and seamless transactions from both merchants and their customers is at an all-time high,” Michael Lozanoff, global head of merchant services at J.P. Morgan Payments, said in the release.

“By incorporating Affirm as a payment method into our Commerce Platform, we are empowering businesses to deliver the services they need and the experiences that customers increasingly expect as part of their retail journey,” he said.

Affirm said the deal was an expansion of existing banking and processing relationships with JPMorgan, the largest U.S. bank by assets. It wasn’t immediately clear when the new option would be available to merchants.

This post appeared first on NBC NEWS

You May Also Like

Investing News

Rare earth metal production was on the rise again in 2023, jumping to 350,000 metric tons (MT) worldwide — that’s up significantly from 190,000...

Investing News

While gold is seen as a stable asset, it’s not immune to gains and losses. For this reason, understanding the trends that move the...

Investing News

~Greenlane to supply complete landfill gas-to-biomethane upgrading solution to repeat customer~ Greenlane Renewables Inc. ( ‘Greenlane ‘) (TSX: GRN) (FSE: 52G) is pleased to announce...

Business News

Tesla on Friday unveiled a restyled, made-in-China Model 3 with a longer driving range, the first time the automaker has launched a new model in...

Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Copyright © 2024 TradingsInsightHub.com All Rights Reserved.