Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, announced an exclusive partnership with Evolve, a vacation rental hospitality company with more than 30,000 properties in 750 markets.
Now, eligible travelers can book vacation rentals and pay over time “with confidence in simple monthly payments.”
By selecting Affirm at checkout, “approved Evolve customers can split the total cost of any booking over $500 into monthly payments for as low as 0% APR. As Affirm never charges customers any late or hidden fees, they are shown the total cost of their purchase and will never pay more than they agree to upfront.”
Eric Schueller, Executive Vice President of Revenue at Evolve, said:
“We knew Affirm was the right partner for Evolve based on their commitment to transparency – their mission to deliver honest financial products aligns seamlessly with our vision to be the most trusted hospitality brand in vacation rental. We look forward to the positive impact this partnership will have on Evolve bookings and the opportunity it will create for people to travel and make memories during these uncertain economic times.”
Pat Suh, Affirm’s SVP of Revenue, said:
“Recent Affirm research revealed that the vast majority of Americans – more than 90% – plan to travel this year, and the fact that costs remain elevated means it is crucial travelers have access to flexible and transparent payment options. By partnering with Evolve, we are able to allow more travelers to book trips without concern for late fees or compound interest.”
When booking with Evolve, travelers are “able to book with confidence, knowing they’ll arrive at a home that’s clean, safe, easy-to-access, and true to everything they saw online.”
Further, guests have 48 hours “to cancel bookings made at evolve.com without penalty, and if their plans change at least 48 hours before check-in they can receive a credit that’s good for two years.”
Evolve joins over 266,000 Affirm retail partners, “including American Airlines, Priceline, Great Wolf Lodge, Cathay Pacific, SeatGeek, Royal Caribbean, and more. Offering Affirm at checkout can drive overall sales, increase average order value, and increase customer repurchase rates.”
As covered, 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 — they empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth.”
Unlike most credit cards and other pay-over-time options, they claim to “show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees.”
