Affirm (NASDAQ: AFRM) is expanding its offerings north by moving into Canada. Affirm is a top buy now pay later (BNPL) platform founded by Max Levchin, who also co-founded PayPal. The expansion into Canada is being enabled by another big Fintech – Stripe, which now offers all eligible Stripe users in Canada to utilize Affirm’s Adaptive Checkout.
Stripe shares that businesses that incorporate Affirm’s BNPL product can anticipate, on average, a 41% higher average order when contrasted to paying immediately. Stripe, which has been operating in Canada since 2012, believes Affirm will help their customers scale and adapt to changing preferences, according to Sophie Sakellariadis, Product Lead for Payment Methods at Stripe.
Wayne Pommen, Chief Revenue Officer of Affirm, said they are excited to expand their partnership while strengthening their position in Canada by offering greater choice to customers.
Adaptive Checkout uses Affirm’s smart decision engine to make a real-time underwriting decision and offer consumers pay over time options. These options range from six weeks to 36 months, sometimes for 0% APR.