Walmart and Affirm team up to enable BNPL on self-checkout kiosks

Walmart recently revealed that it made a deal with Affirm that will allow it to offer buy now, pay later options at self-checkout kiosks. More than 4,500 stores across the US will receive these benefits on their kiosks soon.

Walmart’s website and app will also use Affirm’s installment options, and the same is true for Walmart Vision and Auto Centres.

Partnership expansion arrives amid the holiday shopping season

Affirm’s SVP for revenue, Pat Suh, commented on the move, stating that the expansion of the company’s partnership with Walmart and the resulting introduction of Affirm’s transparent monthly pay-over-time options to Walmart’s self-checkout kiosks will help US consumers increase their purchasing power.

The executive sees this as a great benefit considering the fact that it happened during the holiday shopping season, but it will also be useful to consumers in the future, improving their shopping power throughout the year.

Apart from Walmart, Affirm has also made similar deals with Target and Amazon. It is also worth noting that Walmart already had an existing partnership with Affirm, which allowed its customers to buy goods online and in stores by pre-applying for credit. After that, all they needed to do is show a barcode to a checkout sales associate. However, consumers can now also scan the barcode at the retailer’s self-checkout kiosks by themselves.

Walmart’s website praises Affirm’s service, stating that it is transparent, it offers flexibility that works for customers, and also that it is fair, as there are no late or hidden fees of any kind.

Affirm shares skyrocket after partnership expansion announcement

Following the announcement of the firm’s expansion of the Walmart partnership, Affirm saw its stock price surge by over 15%, as recorded on Tuesday. Previously, the firm’s shares soared over 400% throughout this year, turning it into one of the top performers in the US stock market.

Pat Suh added: “Recent Affirm research revealed that more than half of Americans (54%) are looking for retailers to offer a buy now, pay later option at checkout. Moreover, we’ve found that 76% of consumers would either delay or not make a purchase without Affirm.”

Affirm’s long-term mission is to delivery honest financial products to people that will actually help improve their lives. This is why the firm worked on building a new kind of payment network – one based on transparency, trust, and putting people first. In doing so, the company claims that its service has been successful at empowering millions of consumers, allowing them to spend and save responsibly, and give thousands of businesses the tools to fuel growth.