Welcome to our dedicated page for Affirm Holdings news (Ticker: AFRM), a resource for investors and traders seeking the latest updates and insights on Affirm Holdings stock.
Affirm Holdings, Inc. (NASDAQ: AFRM), founded in 2012, is a leader in the Buy Now, Pay Later (BNPL) sector in the United States. The company offers innovative financial technology services that allow consumers to make purchases both online and in-store with flexible payment plans. Affirm's platform is designed for digital and mobile-first commerce, providing a transparent and user-friendly point-of-sale payment solution. It also offers a consumer-focused app and merchant commerce solutions. Affirm is partnered with nearly 235,000 merchants and serves approximately 14 million customers, primarily generating revenue through merchant networks and virtual card networks.
Affirm stands out by showing customers the total cost of their purchase upfront, without any hidden fees or late charges. This commitment to transparency and trust has helped it expand its services to prominent partners like Walmart, where eligible consumers can pay over time at over 4,500 stores, including Walmart Vision and Auto Centers.
Recently, Affirm has announced a partnership with Evolve, a leading vacation rental hospitality company, allowing travelers to book vacation rentals and pay over time with simple monthly payments. This aligns with Affirm’s mission to offer honest financial products that improve lives by enabling consumers to spend and save responsibly.
Affirm has also expanded its services to Canada through a partnership with FlightHub, allowing Canadian travelers to pay over time for their trips. Further, the company introduced new payment options, Pay in 2 and Pay in 30, to offer greater flexibility to consumers completing smaller transactions under $150.
Affirm's mission is to build a new kind of payment network based on trust, transparency, and putting people first. The company is dedicated to empowering consumers and providing merchants with the tools to drive growth. Affirm's commitment to honesty and customer satisfaction continues to set it apart in the financial technology sector.
SeatGeek has partnered with Affirm to enhance payment flexibility for fans attending live events. This collaboration allows consumers to choose from various payment options, aiming to make live experiences more accessible. Affirm's payment solutions are designed to be transparent, with no late or hidden fees, catering to today's budget-conscious consumers. With this partnership, SeatGeek joins over 200,000 merchants and nearly 13 million active users on Affirm's platform, reflecting a commitment to improving the live entertainment experience.
Affirm Holdings (NASDAQ: AFRM) invites investors to participate in a shareholder fireside chat featuring CFO
Affirm announced a strategic partnership with Stripe, enabling millions of businesses to incorporate Affirm’s Adaptive Checkout™ into their payment systems. This feature allows users to offer flexible payment options, such as bi-weekly and monthly installments, enhancing customer experience.
Eligible customers can finance purchases between $50 and $30,000, with a maximum credit limit of $17,500. Reports indicate that businesses using Affirm have experienced up to 85% increases in average order values.
Affirm has expanded its partnership with WooCommerce to allow its 3.7 million merchants to offer consumers flexible payment options. Through this integration, U.S. and Canadian merchants can provide installment payment plans via Affirm and its subsidiary, PayBright. Customers can choose to split purchases into four interest-free payments or opt for monthly payments with rates starting at 0% APR. Affirm aims to enhance conversion rates, average order values, and customer loyalty while maintaining transparency in payment costs.
Affirm has extended its partnership with Shopify, solidifying its role as the exclusive pay-over-time provider for Shop Pay Installments in the U.S. This multi-year agreement enhances offerings to over 100,000 Shopify merchants, enabling them to provide Affirm's Adaptive Checkout™, which allows customers to choose between biweekly and monthly payment options. This new feature supports cart sizes ranging from $50 to $17,500 and offers flexible payment terms up to 12 months, targeting higher average cart sizes and reducing cart abandonment.
Affirm Holdings (AFRM) reported strong Q3 FY2022 results, exceeding financial projections. Active merchants surged from 12,000 to 207,000, and active consumers grew by 137% YoY to 12.7 million. Gross Merchandise Volume (GMV) rose 73% to $3.9 billion, with total revenue climbing 54% to $354.8 million. Despite an operating loss of $226.6 million, the company aims for sustained adjusted operating income profitability by July 2023. Affirm also announced partnerships with Shopify and Stripe to enhance payment solutions and recently completed a $500 million asset-backed securitization.
Affirm Holdings (NASDAQ: AFRM) will participate in three upcoming investor conferences. On May 17, 2022, CFO Michael Linford will join a fireside chat at the Barclays Virtual Emerging Payments and FinTech Forum at 3:20 PM ET. CEO Max Levchin will speak on May 25, 2022, at the JP Morgan 50th Annual Global TMC Conference in Boston at 8:40 AM ET. Lastly, Linford will attend the BofA Global Technology Conference in San Francisco on June 9, 2022, at 11:00 AM PT. Live webcasts of these discussions will be available on the company’s investor relations website.
Affirm has partnered with Fiserv, a global leader in payments technology, to integrate Affirm's services into Fiserv's Carat℠ operating system. This collaboration allows Fiserv's enterprise merchant clients to offer Affirm's Adaptive Checkout™, enabling consumers to select biweekly or monthly payment options at checkout. This move aims to address the increasing demand for buy now, pay later options. Notably, merchants using Affirm have reported up to an 85% increase in average order values. The rollout is set for later this year.
Fiserv has partnered with Affirm, integrating the Buy Now Pay Later (BNPL) option into its Carat system. This collaboration simplifies the adoption of BNPL for businesses of various sizes, allowing them to choose from multiple payment options effectively. Currently, Fiserv offers BNPL through Bread, Synchrony, and Zip, and the Affirm integration will enhance customer payment flexibility. Approximately half of U.S. consumers prefer merchants that provide pay-over-time options, making this integration a strategic move for attracting and retaining customers.
Affirm's Consumer Spending Report reveals a surge in wedding attendance for 2022, with the average American invited to four weddings. Notably, 28% are planning their own weddings, marking a significant comeback. Sequel weddings are trending, with 35% of invitees expected to attend one. Financial strains are evident, as 63% of guests report feeling stressed about costs, leading 28% to consider Affirm's pay-over-time solutions. Consumers may spend up to $12,000 on weddings this year, highlighting a need for budgeting assistance.
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