Affirm, Stripe announce strategic partnership
Payment network Affirm (NASDAQ:AFRM) and Stripe, a financial infrastructure platform for businesses, announced a strategic 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, comments:
“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.
“Businesses need to move quickly to keep up with changing consumer preferences,” said Sophie Sakellariadis, Payments Product Lead at Stripe. “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.”