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Affirm Shares Are Falling Due To Apple: Here's Why The Stock Is Reacting

Benzinga ·  Mar 29, 2023 00:25
  • Affirm Holdings, Inc (NASDAQ:AFRM) shares declined close to 5% after Apple Inc (NASDAQ:AAPL) launched Apple Pay Later.
  • Apple Pay Later lets customers split a purchase into four equal payments over six weeks, with no interest or fees to pay.
  • Affirm Holdings, Inc. (NASDAQ:AFRM) stock is reacting negatively to the news as it is a notable player in the Buy Now Pay Later (BNPL) market.
  • With Apple's entry, Affirm stands to lose market share, reckoning the number of active Apple devices that can use BNPL right from their smartphone.
  • Apple Pay Later enables contactless payments on iPhone bypassing additional terminals or hardware.
  • Now merchants can use their app to accept payment using Apple Pay, Apple Watch, contactless credit or debit cards, and smartphones with other digital wallets.
  • Also Read: Block's Afterpay Launches Fresh 'Buy Now, Pay Later' Solution To Tap Holiday Season Volumes
  • Apple Pay Later is available for purchases in apps and online when customers check out with Apple Pay.
  • The built-into Wallet helps customers easily track what they owe and when they owe it.
  • Using the Mastercard Inc (NYSE:MA) network, Apple Pay Later works with Apple Pay and requires no integration for merchants.
  • Apple Pay Later enables payment to multiple merchants in a single transaction.
  • Price Action: AFRM shares traded lower by 6.16% at $9.59 on the last check Tuesday.
  • Photo via Company
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