Affirm Expands Merchant Network Ahead of Final Holiday Shopping Push

Rhea-AI Summary

Affirm (NASDAQ: AFRM) has expanded its merchant network with new partnerships including Agape Diamonds, Ever/body, Garmin, and Living Spaces ahead of the holiday season. The company's global network now exceeds 320,000 merchant partners, marking a 20% year-over-year increase. During Black Friday Cyber Monday, Affirm saw a 40-50% year-over-year increase in electronics and travel categories. The payment network is now integrated with over 60% of US e-commerce, offering flexible payment options including 0% APR financing through various channels including the Affirm Card, App, and digital wallets.

Positive

• 20% YoY increase in merchant network to 320,000+ partners
• 40-50% YoY growth in electronics and travel categories during Black Friday Cyber Monday
• Integration with over 60% of US e-commerce
• Expansion of merchant partnerships in diverse retail categories

Negative

• None.

Insights

Financial Analyst

The expansion of Affirm's merchant network represents a significant strategic move, particularly during the important holiday shopping season. Key highlights include 20% year-over-year growth in merchant partnerships, reaching over 320,000 partners and integration with 60% of U.S. e-commerce. The 40-50% YoY increase in electronics and travel categories during Black Friday/Cyber Monday indicates strong consumer adoption.

The partnership expansion with notable retailers across diverse sectors (jewelry, auto, beauty, electronics, travel, home furnishings) demonstrates market penetration and revenue stream diversification. This multi-vertical approach, combined with 0% APR offerings, positions Affirm to capture increased market share in the growing BNPL space, particularly as consumers seek alternatives to traditional credit cards.

Market Research Analyst

Consumer behavior trends strongly favor BNPL solutions, with Forrester Research forecasting continued growth in both big-ticket and everyday purchases. Affirm's strategic timing of these partnerships during peak holiday shopping season maximizes potential transaction volume. The company's integration across multiple shopping channels (merchant websites, Affirm Card, Affirm App, digital wallets) creates a comprehensive ecosystem that reduces friction in consumer adoption.

The focus on transparency and consumer-friendly terms (no late fees, no hidden charges) aligns with growing consumer demand for ethical financial products. This positioning, combined with real-time eligibility checks, suggests strong potential for sustained user growth and reduced default risk.

New partnerships with merchants including Agape Diamonds, Ever/body, Garmin, and Living Spaces help shoppers use flexible pay-over-time options, including 0% APR financing

SAN FRANCISCO--(BUSINESS WIRE)-- Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced the launch of new merchant partners just in time for the peak of holiday shopping season. Eligible consumers in the US can now find Affirm at checkout and pay over time at:

• Agape Diamonds for fine jewelry
• Discount Tires for auto repairs
• Ever/body for cosmetic dermatology treatments
• FullBeauty for size-inclusive fashion
• Garmin for electronics
• Hotels.com for travel
• Living Spaces for home upgrades
• Sweetwater for musical instruments and audio equipment

These retailers are some of the latest to join Affirm's global network of over 320,000 merchant partners, which has seen a more than 20% increase year-over-year. In the US, Affirm is integrated with over 60% of e-commerce, giving consumers a seamless checkout experience across a broad range of merchants. Additionally, consumers can access Affirm’s flexible payment options through the Affirm Card, the Affirm App, and top digital wallets, offering them access to Affirm anywhere they shop.

“Credit cards are being left behind like unwanted lumps of coal as more consumers choose Affirm for its clear terms, lack of hidden fees, and lack of late charges," said Vishal Kapoor, Affirm's SVP of Product. "With the growing demand for smarter, more transparent payment options, these new merchant partnerships are a direct response – arriving just in time for the holiday shopping season."

Kapoor continued, “During this past Black Friday Cyber Monday weekend, we saw a 40% to 50% year-over-year increase in the electronics and travel categories. While I'm no Santa, I do expect these items to stay at the top of shoppers' gift lists as the season comes to a close.”

This shift toward more flexible and transparent payment options is echoed in market data. According to Forrester Research, a leading research and advisory firm, the demand for buy now, pay later (BNPL) services is growing rapidly. As noted in their US Online Holiday Sales Forecast, they “expect this trend to boost holiday sales as more shoppers use BNPL for both big-ticket and everyday purchases.”

Affirm’s users are also embracing the benefits of paying over time: “I love to Affirm my purchases and have been hoping to see their payment option available at checkout in more of my go-to-stores,” said Olivia Martinez, an Affirm consumer. “It helps me better budget, especially when I need to buy a lot of things at once. Plus, I go through their approval process each time, so when I pay with Affirm, I know that I’m not overextending myself.”

When choosing Affirm at checkout, consumers will go through a quick eligibility check. If approved, they can select from customized biweekly or monthly payment plans, with 0% APR available on eligible purchases. Affirm ensures complete transparency—consumers are never charged late or hidden fees.

Consumers interested in shopping with Affirm today can visit www.affirm.com or download the Affirm app from the Apple App Store or Google Play Store.

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 most credit cards and other pay-over-time options, we never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | X.

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/20241203321633/en/

Press

press@affirm.com

(650) 398-2715

Source: Affirm

FAQ

What new merchants joined Affirm (AFRM) network in 2023?

Affirm added Agape Diamonds, Discount Tires, Ever/body, FullBeauty, Garmin, Hotels.com, Living Spaces, and Sweetwater to its merchant network.

How much did Affirm (AFRM) grow during Black Friday Cyber Monday 2023?

Affirm saw a 40-50% year-over-year increase in the electronics and travel categories during Black Friday Cyber Monday.

What percentage of US e-commerce is integrated with Affirm (AFRM)?

Affirm is integrated with over 60% of US e-commerce platforms.

How many merchant partners does Affirm (AFRM) have globally?

Affirm has over 320,000 merchant partners globally, representing a more than 20% increase year-over-year.