JD Sports Partners with Affirm to Offer Flexible Payment Options Just in Time for Holiday Rush

Rhea-AI Summary

JD Sports has partnered with Affirm (NASDAQ: AFRM) to offer flexible payment options across its 500+ JD Sports and Finish Line locations nationwide. Customers can now pay for brands like Nike, adidas, New Balance, and North Face in biweekly or monthly installments, with as low as 0% APR and no hidden fees. The partnership comes ahead of Black Friday and Cyber Monday, following Affirm's reported 50% year-over-year increase in sporting goods purchases in October. Customers can access the payment option both in-store via QR code and online through the Affirm app.

Positive

• Partnership with major retailer JD Sports expands Affirm's merchant network
• 50% YoY increase in sporting goods purchases through Affirm in October
• Integration across 500+ physical retail locations and online platforms

Negative

• None.

Insights

Market Research Analyst

The JD Sports partnership represents a significant expansion of Affirm's merchant network in the retail sports segment. The 50% year-over-year increase in sporting goods purchases through Affirm in October signals strong consumer demand and potential revenue growth. With over 500 JD Sports and Finish Line locations now offering Affirm's payment solutions, this partnership could drive substantial transaction volume during the important holiday shopping season.

The timing is particularly strategic, launching ahead of Black Friday and Cyber Monday. JD Sports' premium brand portfolio, including Nike, adidas and North Face, typically commands higher average order values - ideal for BNPL services. This partnership strengthens Affirm's competitive position against rivals like Klarna and Afterpay in the sporting goods retail sector.

Financial Analyst

This partnership enhances Affirm's merchant network diversity and could positively impact gross merchandise volume (GMV) metrics. The sporting goods sector's higher-ticket items align well with Affirm's business model, potentially driving better unit economics. The 0% APR offering suggests competitive merchant fees, indicating healthy margins on the partnership.

The integration across both physical and digital channels is particularly noteworthy, as omnichannel presence typically drives higher consumer adoption and transaction frequency. Given JD Sports' scale and Affirm's existing momentum in sporting goods retail, this partnership could materially contribute to transaction volume growth, especially during the high-volume holiday season.

Eligible consumers can now use Affirm to pay in biweekly or monthly payments when shopping at JD Sports and Finish Line

SAN FRANCISCO--(BUSINESS WIRE)-- JD Sports, the leading retailer of sports, fashion, and outdoor brands, has partnered with Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, to offer a new, flexible way to pay. This partnership brings Affirm’s pay-over-time options to shoppers purchasing top brands such as Nike, adidas, New Balance, and North Face at JD Sports and Finish Line.

“At JD Sports, we’re committed to giving our customers the freedom to shop the latest sports fashion and footwear, while maintaining full control over their finances,” said Henry Spear, JD Sports’ SVP of Digital Operations. “We’re excited to partner with Affirm, especially with Black Friday and Cyber Monday just around the corner. These events are the Super Bowl of the holiday shopping season, and we know our customers will appreciate the added flexibility and transparency that Affirm offers as they shop.”

With this new offering, consumers can now pay over time at over 500 JD Sports and Finish Line locations nationwide, as well as online through the Affirm app. In-store shoppers can snap a quick scan of the QR code at checkout with their smartphone to get started, while in-app shoppers can select Affirm as a payment option on the store page. In either case, shoppers will go through a quick eligibility check. If approved, they will see customized biweekly and monthly payment plans, with as low as 0% APR, and no late or hidden fees.

“In October, Affirm saw a 50% year-over-year increase in purchases at sporting goods retailers, indicating significant demand for sports fashion and footwear this holiday season,” said Pat Suh, Affirm’s SVP of Revenue. “Through our partnership with JD Sports, we’re making it easier than ever to shop responsibly, whether on the go or at home. And, we’re giving shoppers the flexibility to better manage their purchases, with no hidden fees—just simple, transparent payment options.”

JD Sports joins Affirm’s global network of over 320,000 merchants, including partnerships with Amazon, American Airlines, Peloton, SeatGeek, and more.

About JD Sports Fashion plc

Founded in 1981, the JD Group (“JD”) is a leading global omnichannel retailer of Sports Fashion brands. JD provides customers with the latest athleisure fashion through working with established and new brands to deliver products that our customers most want, across both footwear and apparel. The vision of JD is to inspire the emerging generation of consumers through a connection to the universal culture of sport, music and fashion. JD focuses on four strategic pillars: JD brand first, first priority, first in the world; leveraging complementary concepts to support JD global expansion; moving beyond physical retail by building the right infrastructure and creating a lifestyle ecosystem of relevant products and services; and doing the best for its people, partners and communities.

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.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20241126972428/en/

Press

press@affirm.com

(650)398-2715

Source: Affirm

FAQ

What payment options does Affirm (AFRM) offer at JD Sports?

Affirm offers biweekly and monthly payment plans with as low as 0% APR and no hidden fees at JD Sports and Finish Line locations.

How many locations does the Affirm (AFRM) and JD Sports partnership cover?

The partnership covers over 500 JD Sports and Finish Line locations nationwide, plus online shopping through the Affirm app.

What was Affirm's (AFRM) growth in sporting goods purchases in October 2023?

Affirm reported a 50% year-over-year increase in purchases at sporting goods retailers in October.