Affirm Just Grew This 1 Metric by 710% Thanks to Shopify. Is the Stock a Buy?
Buy now, pay later (BNPL) is a fresh twist on installment-based lending. These loans to consumers are typically small and repaid within a short time frame, and their popularity is soaring of late because they tend to be more user-friendly than alternative products like credit cards.
Affirm Holdings (NASDAQ: AFRM) is a global leader in the BNPL space, and it's catching a major boost thanks to two blockbuster deals it has signed in the last few years. The first deal is with platform e-commerce giant Shopify (NYSE: SHOP), and the second is with Amazon (NASDAQ: AMZN). Both deals will give Affirm prime real estate in their online stores.
Affirm just reported its full-year financial results for fiscal 2022 (ended June 30) and it's certainly facing some challenges, but the new Shopify deal has provided a big lift in one area in particular.
Source Fool.com
