6/7, 5:40 PM (Source: TeleTrader)
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Affirm jumps over 15% after new Amazon Pay deal

Shares of Affirm Holdings Inc. skyrocketed on Wednesday after it revealed a new partnership deal with Inc. The Washington-based e-commerce giant will integrate Affirm's pay-over-time feature to enhance the consumer experience of those based in the United States.

The Adaptive Checkout service offers bi-weekly and monthly pay-over-time options for orders exceeding $50 with annual percentage rates starting at zero, the company revealed in the statement.

"Digital wallets are an increasingly critical part of the shopping experience and are expected to account for over half of e-commerce transactions worldwide by 2025," Affirm's President Libor Michalek said. "Thousands of merchants can offer their customers personalized payment options and increased spending power through Amazon Pay's convenient and secure checkout experience," he added.

The company's stock soared 15.11% to sell at $18.2198 apiece at 11:37 am ET.

Baha Breaking News (BBN) / AB