Amazon introduces buy-now-pay-later feature for selected users; details here
New Delhi | Jagran Business Desk: E-commerce giant, Amazon, has started its 'Buy-Now-Pay-Later' feature on its app for some selected users. Undder the Buy-Now-Pay-Later option, the customers will be able to pay the total cost of purchases of USD 50 or more by dividing them into monthly payments. Amazon has collaborated with a payment network named Affirm which will give flexible payment options to users. The E-commerce company is currently testing this feature in the US with a few of the selected users. It is believed that the company may introduce this feature in other countries as well.
The establishment Affirm in a press statement said that customers will be shown the total cost of their purchase in advance and will not have to pay more than what they agree to at the checkout. Any customer who chooses Affirm will not be charged any late or hidden fees.
“By partnering with Amazon we’re bringing the transparency, predictability and affordability that Affirm provides today to the millions of people who shop on Amazon.com in the U.S,” Eric Morse, Senior Vice President of Sales at Affirm as quoted by India Today said. He further added, “Offering Affirm’s alternative to credit cards also delivers more of the payment choice and flexibility consumers on Amazon want.”
Meanwhile, the payment company Affirm while talking to CNBC also mentioned that some of Amazon purchases it finances will come with interest. Amazon has not yet shared the information about how many users will see the buy-now-pay-later feature or how it will appear over the Amazon app. On the other hand, the company has also not disclosed when this feature would be available for all customers.
Affirm is a US-based startup company, which provides customers with the option of making purchases in small instalments. Currently, the company is associated with popular brands like Adidas, Shopify and Walmart. Currently, the E-commerce website gives its users the option of no-cost EMIs or pay using their credit card.
Posted By: Mallika Mehzabeen