The news: Buy now, pay later (BNPL) provider Affirm’s Adaptive Checkout will now be available to all Worldpay from FIS merchants, per a press release. Worldpay merchants will be able to offer consumers biweekly and monthly payment options.
Affirm’s financial state: Affirm has had trouble keeping up with the rapid growth from fiscal 2022.
The bigger picture: Affirm, along with the rest of the BNPL industry, faces a multitude of challenges that has impeded growth— cooler discretionary spend, regulatory scrutiny, and competitive threats like Apple Pay Later.
To withstand these hurdles, many BNPL providers—including Affirm—are restructuring.
Why this tie-up matters: Affirm is targeting profitability by the end of fiscal 2023. Working with Worldpay can help it reach that goal.
Digging deeper: For a closer look at key trends we’re watching in the BNPL industry, read our “State of Payment Methods” report.
This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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