Affirm (NASDAQ: AFRM), a top BNPL provider, has announced the launch of “AdaptAI” for its merchant partners.
According to Affirm, the new feature enables retailers to offer personalized financial benefits as part of the POS process.
Offerings could include items like APR rates, special repayment terms, or immediate cash savings. These can be customized to the individual based on purchasing data.
Affirm sees this service as competing with current static affinity programs, which do not adapt to individual characteristics. Vishal Kapoor, Affirm’s SVP of Product, says that consumers no longer need to spend more or wait months to gain rewards.
“Now, they can immediately receive tailored, transparent value at the time of purchase. This is only made possible with Affirm’s AI-powered technology and real-time underwriting, and builds on what we do best: delivering customized payment options that help consumers take their money further.”
Affirm predicts a nearly 10% increase in conversion rates by incorporating AdaptAI.