Affirm and Stripe Expand Partnership to Help Merchants in Canada Grow Revenue
13 April 2023 - 11:00PM
Business Wire
Launch of Canadian partnership brings Affirm’s
Adaptive Checkout™ to Stripe’s Canadian users
Affirm (NASDAQ: AFRM), the payment network that empowers
consumers and helps merchants drive growth, today announced that it
is expanding its relationship with Stripe, a financial
infrastructure platform for businesses, to Canada. Affirm’s
Adaptive Checkout™ is now available to all eligible Canadian Stripe
users, allowing merchants and platforms to add this pay-over-time
option to their checkout experience in minutes.
“Stripe has been powering Canadian businesses since 2012 and our
work with Affirm will help them continue to scale and adapt with
changing consumer preferences,” said Sophie Sakellariadis, Product
Lead for Payment Methods at Stripe. “By adopting Affirm, we’ve seen
Stripe users boost their average order value with flexible payment
plans.”
Businesses on Stripe that adopt Affirm have seen an average 41%
higher average order value with Affirm compared to their existing
payment methods.
“Since launching in the U.S. with Stripe, we’ve helped many
businesses better serve their customers and drive growth by
providing transparent and flexible payment options,” said Wayne
Pommen, Chief Revenue Officer of Affirm. “We are excited to expand
our partnership and strengthen our position as one of the leading
providers in Canada. By providing consumers with greater choice to
select the custom payment plan that is right for them, Adaptive
Checkout has been proven to increase sales and conversion, and is
now available to Stripe’s Canadian users.”
Adaptive Checkout uses Affirm’s smart decision engine to make a
real-time underwriting decision and offer consumers optimized
bi-weekly and monthly pay over time options side-by-side. By
providing Adaptive Checkout, Canadian Stripe users now have the
ability to offer a variety of payment options to their customers
that range from six weeks to 36 months for as low as 0% APR. As
always with Affirm, consumers will not be subject to any late fees
or hidden charges.
Consumers who select Affirm as a payment option during checkout
go through a quick, free soft credit check that does not impact
their credit score. If approved, eligible customers will be able to
split their purchases into bi-weekly or monthly payments. Even if
they're late or miss a payment, a customer’s total payment amount
will not increase as Affirm does not charge late or hidden
fees.
Interested Stripe users can learn more about offering Affirm to
their customers here.
Stripe joins over 240,000 merchants and platforms offering
Affirm’s flexible and transparent payment options, including
integrated partnerships in Canada with Apple, Hudson's Bay, Browns
Shoes, and Samsung. Offering Affirm at checkout can drive overall
sales, increase average order value, and increase customer
repurchase rates.
About Affirm
Affirm’s mission is to deliver honest financial products that
improve lives. By building a new kind of payment network – one
based on trust, transparency and putting people first – we empower
millions of consumers to spend and save responsibly, and give
thousands of businesses the tools to fuel growth. Unlike most
credit cards and other pay-over-time options, we show consumers
exactly what they will pay up front, never increase that amount,
and never charge any late or hidden fees. Follow Affirm on social
media: LinkedIn | Instagram | Facebook | Twitter.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230413005340/en/
Press Affirm Matt Gross press@affirm.com
Affirm (NASDAQ:AFRM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Affirm (NASDAQ:AFRM)
Historical Stock Chart
From Apr 2023 to Apr 2024