Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth and Stripe, a financial infrastructure platform for businesses, announced a partnership that “makes Affirm’s Adaptive Checkout available to Stripe users in the U.S. today.”
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.”
Now, businesses using Stripe can “add this technology to their checkout experience in minutes.”
Eligible customers will then “have the option to use Affirm to split the cost of purchases ranging from $50 to $30,000, with a maximum credit limit of $17,500.”
True to Affirm’s long-standing commitment to “never” charge late or hidden fees, customers “will never owe more than they agree to upfront.”
Geoff Kott, Chief Revenue Officer at Affirm, said:
“Businesses who offer Affirm at checkout have reported as much as 85% higher average order values compared to other payment methods, and our new partnership delivers a powerful growth engine to the millions of businesses and platforms that use Stripe. Stripe’s infrastructure, combined with Affirm’s customizable payment options and unrivaled flexibility and transparency, provides immense value for businesses looking to reach new customers, increase sales, and drive growth.”
Businesses who offer Affirm’s Adaptive Checkout “see increased cart conversion, approvals, and sales compared to those who offer monthly payments through Affirm alone.”
Ignacio Flores, Technical Lead Engineer at Orchard Mile, said:
“We were able to integrate Affirm, test, and then launch in production within one day. More than 25% of purchases are being paid through buy now, pay later, and our conversion rate continues to improve as customers have more flexibility to purchase the products they want.”
Sophie Sakellariadis, Payments Product Lead at Stripe, remarked:
“Businesses need to move quickly to keep up with changing consumer preferences. For ten years, Affirm has been a powerful tool for businesses to reach new customers and drive growth. Stripe users can now get started accepting payments with Affirm in mere minutes.”