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[BUSINESS] · United Kingdom, United States · 3 sources

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Amazon partners with Affirm for UK installment payments

Amazon Affirm buy now pay later underwriting model UK retail

Amazon is partnering with Affirm to introduce buy now, pay later (BNPL) installment options for its customers in the United Kingdom. The rollout will allow eligible shoppers to select Affirm at checkout for purchases of at least 50 pounds. Options include three interest-free installments over three months or a 48-month interest-bearing plan. The service will be rolled out progressively and excludes certain categories such as groceries, gift cards, and specific digital content.

Separately, Affirm is enhancing its lending capabilities through a new transformer-based underwriting model. This model focuses on the timing and sequence of credit events to better assess consumer risk. According to Affirm President Libor Michalek, the system is designed to approve applicants who might be declined by traditional models, including those with limited credit histories or no FICO score. The company reported that this new model has already led to a 3.4% increase in completed purchases compared to control groups. Affirm's active consumer base has grown to 27.8 million, a 21% increase.

Entities

Affirm · Amazon · Libor Michalek · United Kingdom · Vassil Gedov

Claims

What the coverage asserts, and how many sources carry each claim.

  • [○ 1 SOURCE] Affirm's active consumer base reached 27.8 million, representing a 21% increase. tearsheet.co
  • [● 3 SOURCES] Affirm's new transformer-based underwriting model can approve applicants with limited credit histories or no FICO score. retailwit.com · tearsheet.co · www.pymnts.com
  • [○ 1 SOURCE] The new underwriting model resulted in 3.4% more completed purchases compared to a control group at similar risk levels. tearsheet.co
  • [● 2 SOURCES] Eligible UK customers can pay for purchases of at least 50 pounds in three interest-free installments over three months or via a 48-month interest-bearing option. retailwit.com · www.pymnts.com
  • [● 2 SOURCES] Amazon is partnering with Affirm to provide installment payment options to customers in the United Kingdom. retailwit.com · www.pymnts.com

Sources

Amazon Expands UK BNPL Footprint With Affirm Partnership [retailwit.com]
Affirm wants its data to tell a more complete customer story [tearsheet.co]
Amazon Expands UK BNPL Footprint With Affirm Partnership [www.pymnts.com]