Worldpay From FIS and Affirm Team up to Expand Pay-Over-Time Solutions That Help Merchants Drive Growth
31 May 2023 - 11:00PM
Business Wire
Multi-year partnership enables Worldpay clients
to seamlessly integrate Affirm and offer flexible and transparent
payment options
Affirm (NASDAQ: AFRM), the payment network that empowers
consumers and helps merchants drive growth, and global financial
technology leader Worldpay from FIS® (NYSE: FIS), today announced a
multi-year partnership that will make Affirm’s Adaptive Checkout™
available to all eligible Worldpay merchants. Starting today,
Worldpay merchants can offer Affirm’s Adaptive Checkout and provide
eligible consumers with bi-weekly and monthly payment options with
just a few simple clicks.
“Consumers are demanding more flexible and transparent options
that enable them to pay over time without any junk fees or hidden
charges,” said Becca Stone, Vice President of Strategic
Partnerships at Affirm. “By partnering with Worldpay, we are
excited to expand the reach of our honest financial products. We
look forward to supporting Worldpay’s merchants to drive growth and
better serve their customers by providing customizable payment
plans that help consumers make their money go further.”
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, Worldpay merchants now have the
ability to offer a variety of payment options to their customers,
from bi-weekly to monthly payments 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.
“It's becoming increasingly important for merchants to provide
pay-over-time payment solutions with consumer demand continuing to
grow," said Jim Johnson, Head of Merchant Solutions at FIS. "We are
thrilled to partner with an industry leader like Affirm, whose
innovative solutions will help us to provide our merchants'
shoppers with the best payment experience possible. By integrating
Affirm’s products at checkout our merchants will be best placed to
capture new sales opportunities and revenue streams, helping them
continue to grow into the future.”
Worldpay enables merchants of all sizes to take, make and manage
payments across channels, geographies and industries. Over one
million merchants globally trust Worldpay solutions to power their
in-store, online and mobile transactions, fight fraud, optimize
authentication and tap into value-added services that boost
commerce. Additionally, Worldpay facilitates payouts to a broad
network of suppliers and beneficiaries around the world, with
capabilities to send money to approximately 225 markets in 135
local currencies.
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 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.
Payment options through Affirm are subject to eligibility, and
are provided by these lending partners: affirm.com/lenders. CA
residents: Loans by Affirm Loan Services, LLC are made or arranged
pursuant to California Finance Lender license 60DBO-111681.
AFRM-F
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version on businesswire.com: https://www.businesswire.com/news/home/20230531005375/en/
Affirm Nicholas Fisher press@affirm.com
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