01:49 PM EDT, 06/11/2024 (MT Newswires) -- Shares of Affirm (AFRM) soared Tuesday after the consumer lending company that offers buy now, pay later services at e-commerce checkouts announced an integration with Apple Pay, though it doesn't expect the partnership to have a material top-line impact in fiscal 2025.

Apple ( AAPL ) users in the US will be able to apply for loans directly through Affirm when they checkout with Apple Pay beginning this fall. Shares of Affirm jumped 8% in afternoon trade.

"This will enable those users checking out online or in-app with Apple Pay on iPhone and iPad to be able to apply to pay over time with Affirm," Affirm said in a Securities and Exchange Commission filing.

Apple Pay allows users to make payments on any third-party web browser and computer by scanning a code on their iPhone to securely complete the payment, which now will also include a buy now, pay later option through Affirm.

The partnership isn't expected to have a material impact on Affirm's fiscal 2025 revenue and gross merchandise value, according to Affirm's filing.

In its fiscal 2024 third-quarter earnings print last month, Affirm reported a 51% year-over-year increase to $576.2 million in revenue and a gain of 36% to $6.3 billion in GMV.

Apple ( AAPL ) also announced the Affirm integration within a batch of new service announcements a one day after the iPhone maker's Worldwide Developers Conference. At the event, Apple ( AAPL ) announced a ChatGPT partnership and new operating systems across its devices that are set to go live later this year.

Apple Pay users in the US will additionally be able to access installment loan offerings from credit and debit cards through Citigroup ( C ) , Synchrony Financial (SYF), and issuers with Fiserv ( FI ) , Apple ( AAPL ) said Tuesday.

Price: 32.47, Change: +2.03, Percent Change: +6.67