Affirm partners with Shopify to offer interest-free, zero-fee online shopping option

Affirm, an alternative consumer credit start-up, announced it partners with eCommerce giant Shopify to offer the buy now pay later financing solution to the consumers in the US. Affirm will exclusively power Shop Pay Instalment which Shopify will roll out later this year to allow approved Shop Pay users to split their payment into 4 equal bi-weekly payments.

“We can help merchants seamlessly enable a pay-over-time option at checkout. In doing so, we’re helping them reach new customers, particularly Gen Z and Millennials, who are looking for more transparent and flexible ways to pay,” Affirm founder and CEO Max Levchin in a press release.

Eligible U.S. Shopify merchants who elect to offer Shop Pay Installments to their customers will not have to worry about collecting future payments from customers. They will receive the full purchase amount, less fee, upfront, and Affirm will handle payment collection.

Google shakes eCommerce industry with commission-free sales

Google announces that it is permanently waving the commission fees on products sold through the “Buy on Google” checkout option. Buy on Google is a payment option that allows customers to purchase the products they find in Google results without leaving the Google website. It allows Google users to buy products directly from the Google search results page.

Bill Ready, President, Commerce wrote on the official Google blog “Today, we’re taking another important step to make it easier for retailers to sell on Google. Soon, sellers who participate in our Buy on Google checkout experience will no longer have to pay us a commission fee.”

By making it commission-free, Google offers an affordable way for retailers to sell online by allowing them to accept payments via online but without paying commission to the payment gateway platforms.