Stripe Offers Affirm’s Adaptive Checkout to Canadian Users

Stripe payment company and the Buy Now, Pay Later (BNPL) Affirm service provider have expanded the scope of cooperation.

Stripe Offers Affirm's Adaptive Checkout to Canadian Users


The press release, which was published last Thursday, April 13, states that the expansion of the scale of partnerships makes the adaptive order confirmation function available to the relevant requests of Canadian Stripe users.

The Stripe and Affirm partnership was launched last year. Initially, the cooperation was aimed at offering American users the possibility of adaptive ordering. The tool uses the intelligent Affirm decision-making mechanism.

Consumers receive optimized payment options every two weeks and monthly. These payment options range from six weeks to 36 months and start at 0% per annum with no late fees.

Sophie Sakellariadis, Head of Stripe’s payment methods department, said that the expansion of partnerships will increase the scale of Canadian business and will allow for faster and more efficient adaptation to changes in consumer preferences. She also noted that the company’s customers, after starting cooperation with Affirm, increased the average cost of orders, which became possible thanks to flexible payment plans.

The expansion of the partnership is taking place at a time when authorities around the world are preparing to create a regulatory framework for regulating processes in the field of BNPL. This market has shown sharp growth. Governments cannot but react to the expansion of this space.

Previously, regulators concerning BNPL to one degree or another adhered to the principle of non-interference. But the situation has changed, and government control is likely to become a new reality in this area.

In the US, the Consumer Financial Protection Bureau (CFPB) recently published a study detailing the potential risks of BNPL. Among the main dangers for consumers is the accumulation and increase of debts, and the possibility of obtaining personal data by service providers without prior notification of the relevant intentions. Experts are convinced that the CFPB will take measures to regulate the BNPL in the foreseeable future.

In the EU, local politicians and officials have done more in terms of creating a regulatory framework for future regulatory activities. In the EU, BNPL is expected to be introduced into the scope of the Consumer Credit Directive. The European Commission has approved a revision of the directive for this purpose.

As we have reported earlier, Stripe Confident in Web Economy Despite Significant Slowing.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.