Online Lenders, Payments
Affirm lands the granddaddy of retail partners, Walmart
- Walmart has partnered with fintech lender Affirm to provide point of sale financing.
- Consumers can choose to pay later using Affirm.
Consumer lender Affirm has partnered with Walmart to give shoppers the option of using Affirm to pay for their purchases over time at nearly 4,000 Supercenters nationwide. What's happening: Once approved, Walmart shoppers can use Affirm to select a repayment term of 3, 6, or 12 monthly installments on a purchase they're making. “We are focused on providing customers transparent, easy, and convenient ways to pay, and offering Affirm both in stores and online is one way to do that,” said Daniel Eckert, Senior Vice President of Walmart Services & Digital Acceleration. “Providing multiple ways to shop and finance select items with no hidden fees is an important way we deliver on our promise to help our customers save money and live better.” Tearsheet take: Purchase financing is a growing trend. Rather than offering financing options themselves, retailers are turning to firms like Affirm to provide their customers easy ways to finance purchases at the point of sale. In With the data it captures, more merchants use Affirm as a marketing lever -- helping them better understand their customers. For consumer point of sale lenders, Affirm is the 800 pound gorilla. There isn't a better or bigger in-store partner for Affirm than Walmart.