Affirm’s Exclusivity Period With Amazon Expires. More Competition Could Be a Worry.

A deal between Affirm Holdings $Affirm Holdings, Inc.(AFRM)$ and Amazon $Amazon.com(AMZN)$ to be the sole provider of buy now, pay later services on the e-commerce website expired.

The agreement, reached in 2021, had a period of exclusivity until Jan. 31, 2023, where Amazon (AMZN) wouldn’t make “other closed-end installment loan products and services by certain competitors of Affirm” available to shoppers.

Under the terms of the agreement, Affirm (AFRM) will continue to offer its services on Amazon’s website until 2025. After that, the companies can agree to extend the deal or not.

The end of the exclusivity period has raised concern with one analyst. “I think a lot of people are worried about more competition,” Mizuho analyst Dan Dolev told Barron’s. PayPal (PYPL) and Block (SQ) are among Affirm’s competitors in the space.

In November, Affirm posted a worse-than-expected loss of 86 cents a share on revenue of $362 million for its fiscal first quarter. The company is set to report second-quarter financial results on Feb. 8 after the market close.

Affirm has other deals similar to the one with Amazon, including an exclusive partnership with online travel company Kayak announced last week.