Why Shopify Stock Soared Today

What happened

Shares of Shopify (SHOP 13.85%) jumped 13.6% on Friday after the online retail platform extended its collaboration with buy now, pay later (BNPL) services provider Affirm (AFRM 31.43%)

So what

The multi-year deal keeps Affirm as Shopify’s exclusive BNPL partner in the U.S. Affirm will power Shopify’s Shop Pay Installments service, which has proved popular with online business owners and consumers alike.

As part of the deal, Affirm will make its Adaptive…

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