RONA Partners with Affirm to Bring Canadians a More Flexible Way to Pay for Home Improvement Supplies Online

Rhea-AI Summary

Affirm (NASDAQ: AFRM) has partnered with RONA, a leading Canadian home improvement retailer, to offer flexible payment options for online purchases. Eligible consumers can now use Affirm at checkout on rona.ca to split their purchases into biweekly or monthly payments for up to 12 months, without any hidden or late fees. RONA, which serves 425 stores, aims to provide the same payment flexibility online as it does in-store. This collaboration with Affirm, which has a network of 292,000 retailers, including major brands like Amazon and Apple, helps consumers manage home improvement costs transparently and conveniently.

Positive

• Partnership with RONA expands Affirm's reach to 425 stores in Canada.
• Eligible consumers can pay through biweekly or monthly installments up to 12 months.
• Affirm's payment solution has no hidden or late fees, enhancing customer trust.
• RONA joins Affirm's extensive network of 292,000 retailers, enhancing Affirm's market presence.

Negative

• None.

Eligible consumers can pay in simple biweekly or monthly payments, with no hidden or late fees

BOUCHERVILLE, Québec & TORONTO--(BUSINESS WIRE)-- Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced a partnership with RONA inc., one of Canada’s leading home improvement retailers operating and servicing some 425 corporate and affiliated stores. Now, eligible shoppers can use Affirm to purchase their home improvement necessities online.

By selecting Affirm at checkout on rona.ca, approved RONA customers can split eligible purchases into biweekly or monthly payments for terms up to 12 months. Consumers are shown the total cost of their purchase and will never pay more than they agree to upfront as Affirm does not charge any late or hidden fees.

“Canadians have trusted RONA for their home improvement needs since 1939 and, throughout the years, their shopping habits have evolved. Many Canadians now prefer to use online solutions for making their purchases and we wanted to offer them the same payment flexibility we offer customers who shop our stores through other flexible payment solutions, which is exactly what Affirm allows us to do,” said Adam Powell, Chief Digital Officer of RONA inc. “We’re thrilled to offer greater choice at checkout to help our customers bring their projects to life.”

“Tackling home projects can be daunting, but using Affirm can give eligible RONA consumers the clarity and control they need to focus on completing the job at hand without the stress or hassle of hidden fees or junk charges,” said Wayne Pommen, Chief Revenue Officer at Affirm. “We’re proud to work with one of the most iconic retailers in Canada to offer a flexible and transparent way to pay for those important home improvement supplies.”

RONA joins Affirm’s network of 292,000 retailers, including partnerships in Canada with Amazon, Apple, Samsung, Hudson’s Bay, Browns Shoes, CheapOair and more.

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 | X.

About RONA inc.

RONA inc. is one of Canada’s leading home improvement retailers and is headquartered in Boucherville, Québec. The RONA inc. network operates or services some 425 corporate and affiliated dealer stores under the RONA+, RONA, Réno-Dépôt, and Dick’s Lumber banners. With a long and rich history, RONA inc. has supported Canadians in their home improvement and construction projects since 1939. To achieve this, the company relies on a team of 21,000 employees, to whom it strives to provide an inclusive workplace where everyone is invited to contribute. RONA inc. is one of the Montréal region’s Top Employers since 2021. As a result of its ongoing efforts in sustainable development, the company is recognized as one of Canada’s Greenest Employers. To learn more about the company, visit the website www.ronainc.ca.

To share this news on social media, please use @RONAEN (Facebook), @RONA (LinkedIn), and @RONAinc (X, formerly Twitter).

Rates from 0-31.99% APR (subject to provincial regulations). Payment options through Affirm Canada Holdings Ltd. (“Affirm”) are subject to an eligibility check and depend on purchase amount, vary by merchant, and may not be available in all provinces/territories. A down payment (or a payment due today) may be required.

AFRM-A

View source version on businesswire.com: https://www.businesswire.com/news/home/20240711378884/en/

Press Contacts

RONA

media@rona.ca

514 599-5900, ext. 5271

1 866 566-3342

Affirm

Nicholas Fisher

press@affirm.com

(650) 398-2715

Source: Affirm

FAQ

What recent partnership did Affirm (AFRM) announce?

Affirm announced a partnership with RONA to provide flexible payment options for online purchases.

How can RONA customers use Affirm for their purchases?

RONA customers can select Affirm at checkout on rona.ca to split purchases into biweekly or monthly payments for up to 12 months.

Are there any hidden or late fees with Affirm's payment plans at RONA?

No, Affirm does not charge any hidden or late fees for payment plans at RONA.

How many stores does RONA operate that are now part of Affirm's network?

RONA operates and services 425 corporate and affiliated stores that are now part of Affirm's network.

What other retailers are part of Affirm's network?

Affirm's network includes 292,000 retailers such as Amazon, Apple, Samsung, Hudson’s Bay, and Browns Shoes.