Affirm allows your customers to set up a payment plan for their purchases in your store(s). Payment plans allow your customers to break down the cost of a purchase into a series of biweekly or monthly installments.
Benefits for Retailers
· Affirm gets you paid upfront. Your business is fully protected from fraud and credit risk.
· More repeat purchases: Make large purchases more affordable to a wider audience, and drive repeat traffic.
· Improved Conversion: Capture customer momentum, overcome price objections, and reduce cart abandonment.
· Higher Avg. Order Value (AOV): Facilitate higher priced sales and larger basket sizes by offering payment plans.
Benefits for Customers
· Instant approval and rapid process: Within seconds, Affirm verifies the customer's credit score, identity, payment information, and provides an instant approval.
· Customers can pay over time, at thousands of stores, with no hidden fees.
· Customers receive revolving credit limits that can be used for multiple transactions, helping drive repeat purchases.
· No retroactive or compounding interest, hidden charges, or prepayment penalties.
· A pre-qualify feature allows customers to obtain a pre-approval before completing the checkout process.