WooCommerce, which claims to be the flexible, open-source ecommerce solution built on WordPress, today announced that it has selected Affirm (NASDAQ: AFRM) as a pay-over-time provider.
This builds on the firms’ existing partnership and will make Affirm a default payment option for merchants using WooPayments.
Soon, merchants using WooCommerce’s integrated payment solution, WooPayments, will be able to “instantly offer Affirm’s customized pay-over-time plans to their customers at checkout.”
Eligible merchants will also access Affirm’s newest Pay in 30 offering, which will launch alongside the existing “biweekly and monthly installment options.”
This addition will enable merchants to offer Affirm across a wider range of transactions, including smaller cart sizes, “making flexible payment plans available to more shoppers.”
Web Griebel, Head of Payments at Woo said:
“We are expanding our partnership with Affirm at a critical time, as consumer demand for flexible and transparent payment plans has never been higher. Just this year, we’ve seen a 45% increase in merchants using Affirm on WooCommerce. At the same time, average order value is higher for WooCommerce merchants who use Affirm than those who don’t. We are excited to enter this next stage of our partnership and to help our merchants drive even more growth through Affirm.”
Established businesses on WooCommerce are seeing “improved growth by offering Affirm at checkout.”
Benjamin De Castro, CMO at Gardyn said:
“At Gardyn, we know how much our customers value choice, flexibility and transparency at checkout, which is something Affirm’s solutions uniquely provide. Offering Affirm through WooCommerce allows us to deliver a best-in-class checkout experience – one that helps us better meet our customers’ needs and, in doing so, accelerates our growth.”
Wayne Pommen, Chief Revenue Officer at Affirm said:
“We are thrilled to expand our partnership with WooCommerce and to serve as a default payment option for thousands of their merchants. This is an exciting opportunity to expand Affirm’s reach, especially among small and midsized businesses, and bring our honest financial products to more and more of the places where people shop.”
As always when paying with Affirm, consumers are “never charged a penny in late fees or compound interest.”
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 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 never charge any late or hidden fees.