Affirm announces JPMorgan Chase merchants can now offer installment loans at checkout

Core Insights - Affirm has reached an agreement with JPMorgan Chase to offer its buy now, pay later loan services to merchants on JPMorgan's payments network [1][4] - This partnership allows U.S. merchants using JPMorgan for payments to integrate Affirm into their checkout processes, providing consumers with loan options ranging from 30 days to 60 months [1] - The deal follows a similar agreement made by rival Klarna, indicating increasing competition in the buy now, pay later sector as both companies aim for growth and market share [2] Company Developments - Affirm's collaboration with JPMorgan is an expansion of existing banking and processing relationships, enhancing its service offerings [4] - The demand for diverse payment options and seamless transactions is at an all-time high, as noted by JPMorgan's global head of merchant services [3] - The integration of Affirm into JPMorgan's Commerce Platform is aimed at empowering businesses to meet customer expectations in the retail journey [3]