Snap Finance announced on Wednesday it has joined forces with Affirm to offer additional pay-over-time financing options to Affirm customers.
Snap and Affirm further revealed that help retailers offer a pay-over-time option that takes into consideration more than a consumer’s credit score when making underwriting decisions. Of course, consumers will see the amount they’ll pay upfront with no hidden or late fees. David Laycock, Chief Commercial Officer at Snap, shared details about the partnership by stating:
“With Affirm, Snap delivers more inclusive options for retailers across sizes and categories, helping them build lasting relationships with their customers. Retailers benefit when their customers can pay over time on a schedule that works for their budget.”
Founded in 2012, Snap Finance claims to be a leading provider of “fast and flexible” pay-over-time digital financing solutions for omnichannel retailers.
“Snap provides financing access beyond traditional credit, opening significant opportunities for retailers to boost sales to a largely underserved market. Snap’s proprietary, AI-driven credit modeling brings modern payment options to consumers who are still growing or rebuilding their credit profiles.”
Snap noted that its lease-to-own payment solutions are now accepted at more than 300,000 merchants.