Stripe Partners With BNPL Fintech Affirm to Help Online Merchants Grow Sales
Stripe and Affirm entered into a strategic partnership that makes Affirm’s Adaptive Checkout available to Stripe users in the US today.
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Adaptive Checkout uses Affirm’s smart decision engine to make a real-time underwriting decision and offer consumers optimized bi-weekly and monthly payments over time options side-by-side.
Now, businesses using Stripe can add this technology to their checkout experience in minutes. Eligible customers will then have the option to use Affirm to split the cost of purchases ranging from $50 to $30,000, with a maximum credit limit of $17,500.
True to Affirm’s long-standing commitment to never charge late or hidden fees, customers will never owe more than they agree to upfront.
“Businesses who offer Affirm at checkout have reported as much as 85% higher average order values compared to other payment methods, and our new partnership delivers a powerful growth engine to the millions of businesses and platforms that use Stripe,” said Geoff Kott, Chief Revenue Officer at Affirm.
“Stripe’s infrastructure, combined with Affirm’s customizable payment options and unrivaled flexibility and transparency, provides immense value for businesses looking to reach new customers, increase sales, and drive growth,” Kott added.
Affirm’s Adaptive Checkout Can Increase Cart Conversion for Stripe Merchants
Businesses who offer Affirm’s Adaptive Checkout see increased cart conversion, approvals, and sales compared to those who offer monthly payments through Affirm alone.
“Businesses need to move quickly to keep up with changing consumer preferences,” said Sophie Sakellariadis, Payments Product Lead at Stripe.
“For ten years, Affirm has been a powerful tool for businesses to reach new customers and drive growth. Stripe users can now get started accepting payments with Affirm in mere minutes,” added Sakellariadis.
Stripe recently announced that it was expanding its platform to make it easier to enter into more partnerships with leading commerce tech firms, bringing more options and features to merchants using its Stripe payments processing solution.
Interested Stripe users can learn more about this new partnership that enables them to offer Affirm to their customers here.
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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.