Affirm deepens its multi-year agreement with J.P. Morgan Payments

Affirm (AFRM) announced that it is deepening its multi-year agreement with J.P. Morgan (JPM) Payments. The agreement will make Affirm’s solutions available to J.P. Morgan Payments’ network of merchants, enabling U.S. merchants using Commerce Platform to offer Affirm’s flexible and transparent pay-over-time plans at checkout. This collaboration comes at a time when consumer adoption of Affirm is rapidly increasing. More consumers than ever are ‘Affirming’ the purchases they want and need, with active consumers growing 23% YoY to a record 21 million and GMV surpassing $10B in the quarter ending December 31. “The demand for diverse payment options, flexibility, and seamless transactions from both merchants and their customers is at an all-time high. 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,” said Michael Lozanoff, Global Head of Merchant Services at J.P. Morgan Payments. “We are thrilled to deepen our relationship with J.P. Morgan Payments and bring our pay-over-time solutions to this massive network of merchants and their customers,” said Wayne Pommen, Chief Revenue Officer at Affirm. “Integrations like this significantly expand the reach of Affirm, giving more businesses the tools to thrive in today’s retail landscape while delivering maximum flexibility and transparency to more consumers.”