BNPL Provider Affirm Adds 8 Merchant Partnerships

Core Insights - Affirm has expanded its merchant partnerships by adding eight new merchants, enhancing its payment options for consumers in the U.S. [1] - The company's global network has grown by 20% year over year, now including over 320,000 merchant partners [1] Merchant Partnerships - New merchants include Agape Diamonds, Discount Tire, Ever/body, FullBeauty, Garmin, Hotels.com, Living Spaces, and Sweetwater [1] - The partnerships aim to provide consumers with flexible pay-over-time options during the holiday shopping season [3] Payment Options - The Affirm Card, Affirm App, and top digital wallets allow consumers to access flexible payment options at any retailer [2] - Consumers can choose customized biweekly or monthly payment plans, including a 0% APR option on eligible purchases [2] Market Trends - During Black Friday, BNPL purchases accounted for 10.1% of online transactions and 7.4% of in-store transactions [4] - Affirm's CEO noted strong interest from merchants in 0% promotions as the holiday shopping season approached [4] Company Performance - Affirm accounts for one-third of the volume and over half of the revenue in the U.S. pay later space [5] - The company is preparing for a strong holiday season, indicating robust operational performance [5] Product Enhancements - In October, Affirm upgraded its app to provide easier access to personalized payment terms and interest-free offers [6] - Consumers perceive 0% APR financing options as equally or more valuable than traditional discounts [6]