Today, Google has announced a pilot program with Affirm and Zip to bring BNPL natively into the Google Pay wallet.
Consumers continue to choose BNPL as a payment option and its popularity continues to grow, particularly during the holiday shopping season.
Consumers shopping at merchants that offer Google Pay at checkout will receive multiple BNPL options powered by both Affirm and Zip. If the consumer has an account of either of the firms they will be able to link their accounts or they will have to go through the onboarding process.
Merchants are signing up for the program hoping to see an increase in average order size with Affirm noting that its merchants average a 60% increase in order size.
It is worth noting that Apple announced Apple Pay Later, their native BNPL option, earlier this year and it rolled out to all U.S. users in October.
The Google pilot will begin in Q1 and Google will be looking to add more merchants before a full launch.
Consumers and select merchants that use Google Pay for online checkout in the United States will see Affirm and Zip offered through a pilot program next year.
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- Source: https://www.fintechnexus.com/fintech-nexus-newsletter-december-13-2023-google-partners-with-affirm-and-zip-on-bnpl-pilot/
