Financial services company Affirm Holdings (AFRM) announced that it is expanding its partnership with tech giant Alphabet’s (GOOGL) Google Pay by adding its buy now, pay later (BNPL) option directly into Chrome’s autofill feature. This builds on Affirm’s Google Pay launch early last year and will give U.S. desktop shoppers an easy way to access the service while browsing and making purchases online. According to Vishal Kapoor, Affirm’s senior vice president of Product, integrating with Chrome’s autofill will allow the company to offer payment flexibility quickly, seamlessly, and at scale.
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With this update, Chrome desktop users will see a “Pay over time options” choice in the autofill dropdown menu during checkout. After selecting it, shoppers will go through an eligibility check, and if approved, they can choose between biweekly or monthly payment plans. The process is designed to be as simple as using saved payment details, thereby making installment payments more accessible to online shoppers.
Affirm says the feature will be available at select merchant sites and will automatically be turned on for those merchants without requiring any extra setup. By removing integration steps for sellers and making the payment process faster for customers, Affirm hopes to increase the use of its buy now, pay later service and make it a more common option for online purchases. Interestingly, investors seemed to like today’s announcement, as AFRM shares are up over 4% at the time of writing.
Is AFRM Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AFRM stock based on eight Buys, six Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average AFRM price target of $76.10 per share implies that shares are fairly valued.
