Affirm Holdings, Inc. (AFRM) shares are trading higher after Apple Inc. (NASDAQ:AAPL) announced Affirm’s payment products are expected to be available to Apple Pay users in the U.S. later this year.
According to an exchange filing, this will enable users checking out online or in-app with Apple Pay on iPhone and iPad to apply to pay over time with Affirm.
This development closely follows Affim’s newly revealed payment options, Pay in 2 and Pay in 30.
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While these two options will only be available with Affirm’s app for the time being, the firm plans to test and roll out its Pay in 2 and Pay in 30 options more broadly to its integrated merchant partners in the coming months.
Last month, while reporting fiscal third quarter results, the company said it had crossed one million active Affirm card consumers at the end of the quarter. Affirm card gross merchandise volume came in at about $374 million.
Affirm expects fiscal fourth-quarter revenue of $585.00 million-$605.00 million, compared with estimates of $602.68 million. The company expects a gross merchandise volume of $6.75 billion-$6.95 billion.
However, Affirm does not expect this partnership with Apple to have a material impact on revenue or gross merchandise volume in fiscal year 2025.
According to Benzinga Pro, AFRM stock has gained over 76% in the past year. Investors can gain exposure to the stock via JPMorgan BetaBuilders U.S. Small Cap Equity ETF (NYSE:BBSC).
Price Action: AFRM shares are trading higher by 5.8% to $32.21 at last check Tuesday.
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