Affirm Partners with VersaClimber to Bring Consumers a Better Way to Pay

Rhea-AI Summary

Affirm (NASDAQ: AFRM) has partnered with VersaClimber, enabling consumers to finance their fitness equipment through monthly payments starting at 0% APR. Eligible customers can purchase VersaClimber machines and split costs over time, ensuring transparency with no hidden fees. The partnership aims to make fitness more accessible, with Affirm's services already benefiting over 240,000 retail partners, including major brands like Walmart and Peloton. This collaboration is expected to drive sales, increase average order values, and enhance customer retention for both Affirm and VersaClimber.

Positive

• Partnership with VersaClimber enhances customer access to fitness equipment.
• Allows consumers to make purchases starting at 0% APR, increasing affordability.
• Partnership could drive sales and improve average order values.

Negative

• None.

VersaClimber available in simple monthly payments, with no hidden or late fees

SAN FRANCISCO--(BUSINESS WIRE)-- Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced a partnership with VersaClimber, the original total body, vertical cardio climber. Now, eligible shoppers can buy their favorite VersaClimber exercise machines and fitness equipment while paying over time.

Affirm partners with VersaClimber (Photo: Business Wire)

By selecting Affirm at checkout, approved VersaClimber customers can split the total cost of any purchase over $50 into simple monthly payments, for as low as 0% APR. They are shown the total cost of their purchase and will never pay more than they agree to upfront. Affirm never charges customers any late or hidden fees.

“We are thrilled to partner with Affirm, an industry leader, to offer our customers a pay-over-time option. This partnership makes VersaClimber’s products attainable for many consumers who are looking for flexible and transparent ways to fit them into their budget,” said Jim Siegrist, VersaClimber’s Chief Revenue Officer.

“VersaClimber’s innovative, non-impact fitness equipment gives consumers an effective and efficient way to exercise in the comfort of their own home,” said Pat Suh, Affirm’s SVP of Revenue. “Our partnership with VersaClimber delivers a flexible, transparent, and responsible way for consumers to shop for new fitness equipment, with monthly payment options that can replace their gym membership fee.”

VersaClimber joins over 240,000 Affirm retail partners, including Walmart, Tonal, Peloton, Mirror, and more. Offering Affirm at checkout can drive overall sales, increase average order value, and increase customer repurchase rates.

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 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.

About VersaClimber

VersaClimber is a global fitness brand and inventors of the first ever vertical climbing machine over 40 years ago and they continue to revolutionize the fitness industry today. VersaClimber is dedicated to designing, manufacturing, and supporting superior products and services that benefit and improve health, fitness, conditioning, and rehabilitation. Our customers include consumers as well as health clubs, all the major sports leagues (NFL, NBA, MLB, NHL), colleges, and the military, among others, as well as a growing group of climbing studios around the world powered by VersaClimber.

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/20230323005305/en/

Affirm

Alex Rafter

press@affirm.com

(650) 398-2715

VersaClimber

Courtney Charnitski

courtney@versaclimber.com

(949) 680-7104

Source: Affirm

FAQ

What is the significance of the Affirm and VersaClimber partnership?

The partnership allows consumers to finance VersaClimber equipment through manageable monthly payments, enhancing accessibility.

How does Affirm's financing work for VersaClimber products?

Customers can purchase equipment over $50 with financing options starting at 0% APR, ensuring no hidden fees.

What companies are partnered with Affirm?

Affirm has over 240,000 retail partners, including notable brands like Walmart, Peloton, and now VersaClimber.

What does the Affirm financing offer mean for VersaClimber sales?

The financing option is expected to drive overall sales for VersaClimber by making products more attainable for consumers.

When was the Affirm and VersaClimber partnership announced?

The partnership was announced on March 23, 2023.