Affirm Launches Adaptive Checkout™, Bringing Greater Choice and Flexibility to Merchants and Consumers
September 22 2021 - 9:00AM
Business Wire
Adaptive Checkout dynamically provides a wider
array of personalized payment options for each transaction,
including four interest-free biweekly payments, monthly payments,
or both
Merchants with early access have seen an
average incremental 26% increase in conversion
Affirm (NASDAQ: AFRM), the payment network that empowers
consumers and helps merchants drive growth, today announced the
launch of Adaptive Checkout™. This latest product enables Affirm
merchants to seamlessly offer customers even more choice and
flexibility at checkout while increasing sales. Leveraging Affirm’s
proprietary technology, Adaptive Checkout builds upon Affirm’s
existing product suite and dynamically provides optimized biweekly
and monthly payment options for each transaction side-by-side in a
single integrated checkout solution. Merchants using Adaptive
Checkout in early access have seen, on average, a 26% increase in
cart conversion, a 22% lift in approvals, and a 20% increase in
sales, compared to offering monthly payments through Affirm
alone.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20210922005303/en/
(Photo: Business Wire)
Adaptive Checkout uses Affirm’s smart decision engine to deliver
personalized payment options based on the transaction size as well
as a real-time underwriting decision. As is always the case with
Affirm, consumers never pay a penny more than they agree to upfront
and are not charged any late or hidden fees, like compound or
deferred interest.
“Adaptive Checkout provides consumers with even more choice and
flexibility at checkout,” said Geoff Kott, Chief Revenue Officer at
Affirm. “Providing an optimized set of payment options for
consumers to choose from has resulted in our highest-converting
checkout solution for merchants. Adaptive Checkout extends our
ability to intelligently service a wide range of transactions,
providing the option to select from four interest-free payments
every two weeks to monthly payments spanning three to 36
months.”
“As a 145-year-old family-owned company helping busy families
Live in the Moment, Not the Mess™, working with Affirm allows us to
provide the most flexible payment options so our customers can
purchase now and pay over time on a budget-friendly schedule,” said
Kevin Marsh, Director of DTC Ecommerce & Data Activation at
BISSELL, the top-selling brand in floor care appliances. “Since
adding Adaptive Checkout, we’ve seen incremental increases in sales
volume and average order value, driving meaningful growth for our
business while continuing to provide the premium home cleaning
solutions our customers expect.”
“Using Adaptive Checkout proves that offering flexibility
encourages consumers to shop with us. We’re able to capture new
customers who may have wanted to shop with Luisaviaroma but didn’t
have the ability until now,” said Nicola Antonelli, CMO at
LuisaViaRoma. “Adaptive Checkout allows us to offer the most
relevant payment options to both the younger consumer who may
typically purchase lower-priced items as well as consumers
interested in higher-end luxury purchases, all with one checkout
solution.”
Adaptive Checkout is now available for new and existing Affirm
merchant partners. To learn more visit
http://affirm.com/business/blog/affirm-adaptive-checkout-lifts-sales.
About Affirm Affirm’s mission is to deliver honest
financial products that improve lives. By building a new kind of
payment network — one based on trust, transparency and putting
people first — we empower millions of consumers to spend and save
responsibly, and give thousands of businesses the tools to fuel
growth. Unlike credit cards and other pay-over-time options, we
show consumers exactly what they will pay up front, never increase
that amount, and never charge any late or hidden fees. Follow
Affirm on social media: LinkedIn | Instagram | Facebook |
Twitter.
Payment options through Affirm are subject to eligibility, and
are provided by these lending partners: affirm.com/lenders. CA
residents: Loans by Affirm Loan Services, LLC are made or arranged
pursuant to California Finance Lender license 60DBO-111681.
AFRM-F
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210922005303/en/
Press Contacts Alex Rafter press@affirm.com
(650)398-2715
Investor Relations ir@affirm.com
Affirm (NASDAQ:AFRM)
Historical Stock Chart
From Aug 2024 to Sep 2024
Affirm (NASDAQ:AFRM)
Historical Stock Chart
From Sep 2023 to Sep 2024