Fintech company Affirm, which aims to offer a more flexible and transparent way to make digital payments, revealed on August 26, 2020 that it has teamed up with David’s Bridal, a US-based bridal and special occasion authority.
Affirm and David’s Bridal are allowing qualified or eligible customers to pay for their “once-in-a-lifetime” gowns over a period of time, with simple monthly payments and no hidden charges or late fees.
The average American wedding costs around $34,000, according to Rustic Wedding Chic. It can be stressful for people to plan their weddings due to the high costs. Realizing this, David’s Bridal aims to offer a solution to help brides shop without having to make a compromise.
As mentioned in a release shared with CI:
“Paying with Affirm at David’s Bridal is transparent, flexible, and straightforward. A customer simply selects Affirm as a payment method at checkout, making it a natural part of a customer’s shopping experience. Right now, qualified brides will be able to split the cost of their purchase over three or six months with no interest or late fees, for any purchase over $100. For example, a $200 dress might cost $67/mo over three months at 0% APR.”
Kelly Cook, Chief Marketing and IT Officer at David’s Bridal, said that the company likes to refer to itself as “stress-free devotees.” The company aims to make the shopping experience more enjoyable and easier for all its customers. Cook noted that her company’s partnership with Fintech company Affirm will support a modern payment option that “grants more flexibility and multiple ways to shop for a once-in-a-lifetime dress without settling.”
Silvija Martincevic, CMO at Affirm, stated that starting today (August 26), customers who pay with Affirm will be able to choose the payment schedule that they prefer which should make it “easier than ever to say yes.”
David’s Bridal has now joined Affirm’s network of more than 6,000 retail partners and is notably one of the largest US bridal retailers to offer Affirm to its customers at checkout. Affirm is currently available on David’s Bridal official website and will be available at all 300+ of its stores in the coming months.
As reported in late July 2020, San Francisco based Fintech Affirm was reportedly planning an IPO at a $10 billion valuation.
Affirm has also announced a collaboration with Design Within Reach to allow shoppers to pay-over-time for modern furniture and decor. The company recently teamed up with Shopify to offer Buy Now, Pay Later installment plans for merchants.