Affirm Stock Declines Following Klarna’s Apple Pay Integration Announcement

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Date: October 23, 2024

London, UK – Affirm (NASDAQ: AFRM) shares experienced a notable decline today following Klarna’s announcement that its popular “Buy Now, Pay Later” (BNPL) services are now integrated with Apple Pay, giving Klarna a competitive edge in the digital payments space. This development is seen as a significant step for Klarna, offering its users a seamless payment experience both in-app and online with Apple Pay. Investors reacted swiftly, leading to a drop in Affirm’s stock price as market competition intensifies.

Klarna, a Swedish fintech giant, has steadily increased its market share in the BNPL industry and this new collaboration with Apple Pay places further pressure on Affirm, a prominent BNPL player in North America. The integration allows Klarna users to split payments into interest-free installments while using Apple Pay for purchases at millions of retailers worldwide.

Julie Hyman and Josh Lipton, hosts of Market Domination, analyzed the stock market reaction, explaining that Affirm’s investors are concerned about how this move could affect Affirm’s customer base, especially as more retailers and consumers gravitate toward Klarna’s flexible payment options. Hyman highlighted that Klarna’s broader global reach and its strategic alliances, such as this one with Apple Pay, could reduce Affirm’s ability to maintain its current growth trajectory.

Affirm has long enjoyed dominance in the BNPL space, particularly in the U.S. market, but with Klarna’s increasing presence and expansion into key digital platforms like Apple Pay, it is facing mounting pressure to retain its position. Investors will be closely monitoring how Affirm responds to this competitive threat.

About Klarna
Klarna is a leading global payment solutions provider, known for its innovative “Buy Now, Pay Later” services that allow consumers to shop with ease and split payments into interest-free installments. With over 150 million users and 500,000 global retailers, Klarna has cemented itself as a dominant player in the fintech industry.

About Affirm
Affirm is a U.S.-based financial technology company that offers consumers flexible and transparent payment solutions. Affirm’s mission is to provide honest financial products that improve lives, allowing consumers to buy goods and services and pay over time with no hidden fees.


Fintech News Europe provides in-depth coverage of Europe’s financial technology sector, from market trends and regulatory changes to innovative product launches and funding announcements.

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