Affirm, the financial services company known for its installment loans, has embarked on a new partnership with Walmart that will see Affirm’s buy now, pay later (BNPL) loans offered at Walmart’s self-checkout kiosks..
The integration, which was initially announced in June 2023, is now live in over 1,000 Walmart stores across the United States. Customers shopping at these stores will be able to use Affirm to purchase any item over $50, with the option to pay it off in installments over three, six, or twelve months..
To use Affirm at Walmart, customers simply need to select the Affirm option at checkout and enter some basic information, such as their name, email address, and phone number. They will then be asked to provide their payment information, and once their loan is approved, they can complete their purchase..
The partnership between Affirm and Walmart is a significant step forward for the BNPL industry. Affirm is one of the leading BNPL providers in the United States, and Walmart is the largest retailer in the world. The integration of Affirm’s BNPL loans into Walmart’s self-checkout kiosks will make it easier than ever for customers to use BNPL to finance their purchases..
Affirm’s BNPL loans are particularly appealing to customers who do not have access to traditional credit. BNPL loans typically do not require a credit check, and they often have lower interest rates than credit cards. This makes them a viable option for customers who are looking to finance a purchase but do not want to take on new debt..
The partnership between Affirm and Walmart is likely to have a major impact on the BNPL industry. It is a clear sign that BNPL is becoming increasingly mainstream, and it is likely to lead to more retailers adopting BNPL as a payment option..
In addition to the partnership with Walmart, Affirm has also recently launched a number of other initiatives to expand its reach. In October 2023, the company announced that it would be partnering with Amazon to offer Affirm’s BNPL loans on Amazon’s platform. Affirm has also launched a new mobile app that makes it easier for customers to manage their Affirm loans..
Affirm’s recent initiatives are a clear sign that the company is committed to expanding its reach and becoming the leading BNPL provider in the United States. The partnership with Walmart is a major step forward for Affirm, and it is likely to have a significant impact on the BNPL industry..
