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NEWS RELEASE


AFFIRM EXTENDS MULTI-YEAR EXCLUSIVE PARTNERSHIP WITH SHOPIFY IN THE U.S.

May 12, 2022
PDF Version

Affirm to continue serving as exclusive provider of Shop Pay Installments in the
U.S. 

Shop Pay Installments to integrate Affirm’s Adaptive Checkout™ and support all
eligible U.S. merchants with both biweekly and monthly payment options and
address higher cart sizes

SAN FRANCISCO--(BUSINESS WIRE)--May 12, 2022-- Affirm (NASDAQ: AFRM), the
payment network that empowers consumers and helps merchants drive growth,
announced today a multi-year extension of its partnership in the U.S. with
Shopify, a provider of essential internet infrastructure for commerce. The
agreement cements Affirm as the exclusive pay-over-time provider for Shop Pay
Installments in the U.S.

In connection with the extended agreement, all eligible U.S. merchants offering
Shop Pay Installments will have access to Affirm's Adaptive Checkout™, a
first-of-its-kind product in the U.S., which dynamically offers biweekly and
monthly payment options side-by-side in a single integrated checkout.

Since its launch in June 2021, Shop Pay Installments, powered by Affirm in the
U.S., has enabled more than 100,000 Shopify merchants to seamlessly offer
millions of consumers the ability to split purchases up to $3,000 into four
interest-free biweekly payments with no fees. Beginning this summer, Shop Pay
Installments will add Affirm’s Adaptive Checkout™, enabling eligible merchants
to offer the only optimized payment options in the U.S. – from interest-free
biweekly payments to monthly simple interest-bearing installments. As a result,
buyers will be able to use Shop Pay Installments for cart sizes that range from
$50 to $17,500, with payment terms ranging from six weeks to 12 months.

“Last year, we chose to partner with Affirm in the U.S. due to their technology
and expertise in buy now, pay later solutions, and their commitment to
transparency and never charging late or hidden fees,” said Shruti Patel,
Director of Product Partnerships at Shopify. “As we extend our partnership with
Affirm in the U.S., we look forward to helping our merchants deliver even more
flexibility and choice to their buyers, while increasing conversion, driving
higher average cart sizes and faster checkouts that reduce cart abandonment.”

“Together with Shopify, we set out to build a custom payment option that would
help Shopify merchants of all sizes accelerate growth, while empowering their
millions of buyers with a transparent and flexible way to pay. Since its launch
in June 2021, Shop Pay Installments has done just that, enabling buyers to split
a total purchase amount into four interest-free bi-weekly payments at checkout,”
said Silvija Martincevic, Chief Commercial Officer at Affirm. “Now we’re
bringing even more options to Shopify’s merchants and their customers by serving
a broader range of transactions with a wider-range of payment schedules
available to their U.S. network.”

Affirm separately disclosed its financial results for its fiscal 2022 third
quarter ended March 31, 2022. For more information, please visit:
investors.affirm.com.

About Affirm

Affirm’s mission is to deliver honest financial products that improve lives. By
building a new kind of payment network — one based on trust, transparency and
putting people first — we empower millions of consumers to spend and save
responsibly, and give thousands of businesses the tools to fuel growth. Unlike
credit cards and other pay-over-time options, we show consumers exactly what
they will pay up front, never increase that amount, and never charge any late or
hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook |
Twitter.

AFRM-F

Rates from 0% APR or 10-30% APR. Payment options through Shop Pay Installments,
are subject to an eligibility check and are provided by these lending partners:
affirm.com/lenders. Options depend on your purchase amount, and a down payment
may be required. State notices to consumers: www.affirm.com/licenses.



View source version on businesswire.com:
https://www.businesswire.com/news/home/20220512005426/en/

Affirm
Ana Braskamp & Matt Gross
press@affirm.com

Source: Affirm




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Payment options through Affirm are provided by these lending partners:
affirm.com/lenders. Your rate will be 0% APR or 10–36% APR based on credit, and
is subject to an eligibility check. Affirm Pay-in-4 payment option is 0% APR.
Options depend on your purchase amount, may vary by merchant, and may not be
available in all states. A down payment may be required. For example, a $800
purchase could be split into 12 monthly payments of $72.21 at 15% APR, or 4
interest-free payments of $200 every 2 weeks. Affirm savings accounts are held
with Cross River Bank, Member FDIC. California residents: Affirm Loan Services,
LLC is licensed by the Department of Financial Protection and Innovation. Loans
are made or arranged pursuant to California Financing Law license 60DBO-111681.
Debit+ Banking Services are provided by Evolve Bank & Trust, Member FDIC, issuer
of the Affirm Debit+ Visa® Debit Card pursuant to a license from Visa U.S.A.
Inc. Debit+ is not available to residents of New Mexico or U.S. territories.
Affirm, Inc., NMLS ID 1883087. Affirm Loan Services, LLC, NMLS ID 1479506. For
licenses and disclosures, see affirm.com/licenses.
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