Affirm joins J.P. Morgan Payments to expand pay-over-time options

By Gloria Methri

Affirm has expanded its partnership with J.P. Morgan Payments, extending its pay-over-time options to merchants using J.P. Morgan’s Commerce Platform in the U.S. This agreement allows businesses within the network to offer Affirm’s flexible payment plans at checkout.

The announcement comes as Affirm sees increasing consumer adoption. The company reported a 23% year-over-year rise in active users, reaching 21 million, while its total transaction volume grew 35% to $10 billion in the quarter ending December 31, 2024.

“The demand for diverse payment options, flexibility, and seamless transactions from both merchants and their customers is at an all-time high. By incorporating Affirm as a payment method into our Commerce Platform, we are empowering businesses to deliver the services they need and the experiences that customers increasingly expect as part of their retail journey,” said Michael Lozanoff, Global Head of Merchant Services at J.P. Morgan Payments.

With Affirm integrated at checkout, U.S. merchants using J.P. Morgan Payments’ Commerce Platform can offer customers the option to pay over time. Shoppers will undergo a quick eligibility check and, if approved, can choose from customised biweekly or monthly payment plans. Affirm’s technology enables real-time underwriting, allowing it to support a wide range of transactions, from $35 to $30,000, with repayment terms from 30 days to 60 months. The company does not charge late or hidden fees.

Affirm’s payment options have been shown to increase business sales. Compared to other pay-over-time providers, merchants using Affirm see 70% higher average cart sizes and nearly 30% fewer abandoned carts.

“We are thrilled to deepen our relationship with J.P. Morgan Payments and bring our pay-over-time solutions to this massive network of merchants and their customers,” said Wayne Pommen, Chief Revenue Officer at Affirm. “Integrations like this significantly expand the reach of Affirm, giving more businesses the tools to thrive in today’s retail landscape while delivering maximum flexibility and transparency to more consumers.”

Affirm will also join the J.P. Morgan Payments Partner Network, which connects businesses with J.P. Morgan’s payment solutions and third-party providers to help them develop and optimise their payment strategies.

J.P. Morgan Payments offers treasury services, trade and working capital solutions, and card and merchant services, enabling clients to send payments globally in multiple currencies. The company processes nearly $10 trillion in payments daily across more than 160 countries and 120 currencies. In 2024, its Merchant Services division handled $2 trillion in payment processing volumes.