Affirm unveils new BNPL payment options to offer more flexibility

Affirm Holdings (NASDAQ:AFRM) announced two new payment options, Pay in 2 and Pay in 30, to offer more flexibility for customers that get paid semi-monthly or monthly.

The new options will allow customers to make payments in two interest-free installments per month, or to pay in full within 30 days of their purchase, without ever revolving.

Affirm (AFRM) plans to test and roll out the new options widely to its integrated merchant partners in the coming months. These are in addition to the existing Pay in 4 and monthly installment options.

“Adding options like Pay in 2 and Pay in 30 allows us to better meet consumers’ individual preferences, enabling them to pay for purchases large or small with more options that work best for their budgets,” said Vishal Kapoor, head of product, Affirm (AFRM).

BNPL payments, which have been growing in popularity amid high inflation, are expected to increase 14.8% Y/Y to reach $109B this year, according to Research and Markets. However, a recent CFPB rule treating BNPL lenders essentially the same as credit-card issuers may hinder future expansions.