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