Why Affirm's Stock Is Tumbling Today
Affirm Holdings Inc (NASDAQ: AFRM) is trading lower Tuesday as traders circulate Mastercard Inc's (NYSE: MA) "Buy Now, Pay Later" (BNPL) news.
Mastercard unveiled its own BNPL program called "Mastercard Installments," which will give consumers a flexible option to pay through interest-free installments.
"It enables banks, lenders, fintechs, and wallets to offer a variety of flexible installment options to consumers - including a zero percent interest, pay-in-four model – without onerous integration into the merchant infrastructure, allowing them to quickly offer secure and competitive BNPL experiences at scale," Mastercard stated.
Affirm offers a platform for digital and mobile-first commerce. It comprises a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app.
The company recently announced a partnership with Amazon.com Inc (NASDAQ: AMZN) allowing customers to purchase items with an installment plan.
AFRM Price Action: Affirm has traded as high as $146.90 and as low as $46.50 over a 52-week period.
The stock was down 6.88% at $119.56 at time of publication.
Photo: Alina Kuptsova from Pixabay.
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