Affirm Announces New App Enabling Consumers to Shop Anywhere

Affirm, Inc., the monetary expertise firm that gives clear and consumer-friendly cost to cash and conventional credit score, right this moment introduced its new app, which permits customers to buy at just about any retailer and break up their funds. The app allows customers to buy with the belief and comfort that fashionable buyers demand, furthering the corporate’s mission of offering sincere monetary merchandise that enhance lives.

“Over the previous 7 years, thousands and thousands of shoppers have come to like the simplicity and transparency of buying with Affirm—they usually need to use our product all over the place. At this time we’re excited to make this a actuality with the brand new Affirm app, enabling customers to make use of Affirm all over the place they love to buy.”– Max Levchin, Co-Founder and CEO of Affirm

For customers: Dream huge, pay small with the Affirm app

At present, Affirm customers are in a position to store at 1000’s of retailers in-store and on-line which have Affirm built-in at checkout. Now, Affirm’s new app empowers customers to dream huge and pay small at just about any retailer whereas holding the pliability and predictability they’ve come to like.

Within the app, buyers can prequalify to see their spending energy with Affirm and create a one-time-use digital card that permits them to buy virtually wherever. Affirm’s app additionally permits customers to pay at any brick-and-mortar retailer that accepts Apple Pay or Google Pay, which is more and more necessary as 24% of customers need the pliability to look on-line and store in-store.

Not like bank cards—which 67% of customers say they’re avoiding this vacation season—Affirm’s proprietary underwriting model solely approves customers for what they will responsibly afford, serving to them store with confidence. Moreover, in distinction to the numerous apps that provide coupons, rewards factors or cash again, the Affirm app provides customers spending energy and speedy financial savings by unique 0% and low-APR gives at high manufacturers—making certain they at all times get the perfect deal potential.

For retailers: Convert and purchase high-LTV clients

At a time when retailers are in search of methods to increase their buyer base with out heavy discounting, Affirm’s new app gives a novel answer.

The app harnesses Affirm’s sturdy shopper community, enabling manufacturers to be found by greater than Three million buyers and to accumulate clients earlier of their buying journey. Past elevated visitors, the app connects retailers with high-intent buyers who’re assured of their spending energy with Affirm. Moreover, half of Affirm’s customers are Millennials or Gen Z, permitting retailers to entry this buyer base earlier of their lifetimes. Retail companions featured on the Affirm app have seen as much as a 3x raise in onsite conversion relative to different apps. These with Apple Pay or Google Pay enabled have additionally seen as much as 14% of transactions pushed in-store, making the Affirm app a uncommon omnichannel answer for buyer acquisition.

Get began right this moment:

To get began, buyers can choose Affirm at checkout or prequalify through the app by offering 5 easy items of knowledge. A credit score resolution is made inside seconds—and it received’t have an effect on their credit score rating. Certified buyers can then choose a cost plan of three, 6 or 12 months with an rate of interest between 0-30% APR. Month-to-month funds are proven in actual {dollars} as an alternative of hard-to-calculate percentages, so buyers at all times know precisely what they owe with no hidden or late charges. Prospects by no means pay a penny greater than what they comply with at checkout.

Affirm’s new app comes simply in time for the vacation season. The Nationwide Retail Federation reported People spent over $700 billion in the course of the 2018 winter holidays, with this spend anticipated to extend in 2019. Moreover, a latest examine of American customers carried out by Affirm revealed that:

90% plan to spend as much as $2,500 on their vacation buying;
64% desire a pay-over-time choice and say it would assist them funds;
63% stated they plan to complete their vacation buying by Cyber Monday; and
Prime items this 12 months embrace attire (24%), equipment (19%) and electronics (19%).

Affirm helps customers simplify the buying expertise and discover the proper items at the perfect costs all from the palm of their hand—whether or not they’re on the go or lounging at dwelling. Affirm’s new app removes the stress of vacation buying so customers can do extra of what they love this 12 months.

DOWNLOAD THE APP

About Affirm

Affirm was based with the aim of making sincere monetary services and products that empower customers and enhance lives. Our aim is to revolutionize the banking trade to be extra accountable and accessible to customers. At this time, Affirm offers thousands and thousands of buyers a substitute for conventional bank cards on the level of sale, giving them the pliability to purchase now and make easy month-to-month funds for his or her purchases. Not like cost choices which have compounding curiosity and sudden prices, Affirm exhibits clients up entrance precisely what they’ll pay every month — with no hidden charges and no surprises. Affirm provides buyers the power to pay over time at any retailer and in addition companions with over 3,000 retailers together with well-known manufacturers throughout retail like dwelling furnishings, journey, private health, electronics, attire and sweetness, and extra. Loans are made in partnership with Affirm’s originating bank associate Cross River Bank, Member FDIC.

Concerning the Survey

The net survey was carried out by Qualtrics from September 7, 2019 to September 9, 2019, amongst a demographically consultant pattern of 1,554 U.S. customers aged 18 to 73.