As the name implies, the new option would allow consumers to divide the total cost of purchases of $50 or more into easy monthly installments, rather than one large lump sum payment. According to a news release from Affirm, authorized clients will be shown the whole amount of their purchase upfront and will never be charged more than they agreed to at the time of purchase. In the case of Affirm, consumers will not be charged any late fees or other hidden expenses. Affirm is a business headquartered in the United States that allows customers to break down large purchases into smaller installments. The choice is more popular with younger customers, who are more likely to use it. Because the majority of people do not have access to credit cards, they must rely on networks like this to purchase items that are prohibitively expensive. Adidas, Shopify, and Walmart are just a few of the well-known companies that have partnered with Affirm. Customers in India may already take advantage of no-cost EMIs or pay using their credit cards if they do not choose to pay the whole amount in one lump sum at the time of purchase.
