Good news for all compulsive broke shoppers. Amazon will soon be offering its US customers the option to pay for their orders online later.
In the USA, Amazon is about to embark on deferred payment. From a purchase of $ 50, North American customers will now be able to choose the option “buy now, pay later”, allowing them to postpone their payment, but also to settle their bill in several installments. An increasingly popular feature across the Atlantic, for which e-commerce giant called on Affirm, a company specializing in deferred financing. Since the announcement of its partnership with Amazon, the firm benefited from a 46% increase in its assets, and its shares are now valued at more than $ 26 billion.
Compete with consumer credit
This initiative, eagerly awaited by Amazon customers, reveals a reality already very popular across the Atlantic – and more and more on the old continent, that of purchase on credit, which comes directly from compete with traditional consumer loans. Today, more and more fintech companies are offering deferred payment to their clients, allowing them to free themselves from the costs of microloans without having to pay cash.
Really free of charge?
It must be said that to convince its customers to go through its deferred payment system, Amazon has several major advantages: firstly, everything takes place directly on the merchant site, without any intermediary. Second, the world’s largest store has already confirmed that several items would benefit from a 0% rate, without hidden costs or late fees. It remains to be seen what will happen to products not affected by this enticing 0 rate offer.
Deployed for the moment only in the United States, and only at certain resellers, Amazon’s new deferred payment system is still in the testing phase. However, given the popularity of this type of option, it’s a safe bet that the “pay later” do not democratize quickly internationally, especially since Amazon is far from being one of the forerunners on the subject.