Selfbook Partners with Affirm to Bring Flexible Payment Options to Hotel Bookings

Rhea-AI Summary

Affirm (NASDAQ: AFRM) Partners with Selfbook to Bring Flexible Payment Options to Hotels, Leading the Industry in Modernizing Hotel Payments and Bookings

Positive

• Affirm's partnership with Selfbook enables approved US-based hotels to offer flexible payment options, with interest as low as 0%, leading to a potential increase in direct bookings and revenue.
• More than 5% of bookings at The Kartrite Resort & Indoor Waterpark were paid for using Affirm throughout July 2023, indicating consumer interest and adoption of the payment method.
• Affirm merchants typically see a 60% lift in average order value, increased conversion, and reach new customers, suggesting potential benefits for hotels using Selfbook.

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• None.

Cape May La Mer, Victor Hotels, and The Kartrite announced as the first hotel partners, leading the industry by enabling guests to pay over time with Affirm directly on their hotel websites for the first time

NEW YORK & SAN FRANCISCO--(BUSINESS WIRE)-- Selfbook, the technology company that is modernizing hotel payments and bookings, today announced a partnership with Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, bringing Affirm’s flexible, transparent payment options to Selfbook’s seamless hotel bookings. Selfbook and Affirm are launching the partnership with their first joint hotel partners, Cape May La Mer, Victor Hotels and The Kartrite.

Selfbook Partners with Affirm to Bring Flexible Payment Options to Hotel Bookings (Graphic: Business Wire)

Any approved US-based hotel can drive additional direct business by adding Affirm’s monthly and biweekly payment options, with interest as low as 0%. With summer in full force and Affirm now available as a payment method on Selfbook’s direct booking flow, more than 5% of bookings at The Kartrite Resort & Indoor Waterpark were paid for using Affirm throughout July 2023. Guests will never pay more than they agree to at checkout, as Affirm never charges any late or hidden fees.

“This partnership brings Affirm’s flexible payment options to the hundreds of hotels that use Selfbook to power their bookings,” said Becca Stone, Vice President of Strategic Partnerships at Affirm. “By offering their guests personalized payment options and the confidence they will never pay more than they agree to upfront, hotels can accelerate their growth for the busy summer travel season and beyond.”

Working in tandem with hotels’ existing technology systems, Selfbook empowers hotels worldwide by continuously improving the guest experience and supporting the fastest-growing payment methods that are shaping how consumers spend. Selfbook enables hotels to provide their guests with a selection of features they value most when spending online: a frictionless and secure express checkout flow, digital wallet support, and now, BNPL with Affirm.

“We look forward to reshaping the face of hospitality by empowering hotel guests to pay for their stay with the most flexible and robust payment options available today,” said Gautier Colin, Vice President of Partnerships at Selfbook.

Buy Now, Pay Later presents a significant opportunity for the hospitality industry, with $995 billion forecasted in BNPL spend by 2026 as consumers increasingly expect merchants to offer flexible payment options like Affirm at checkout. On average, Affirm merchants see a 60% lift in average order value, increased conversion, and are able to reach new customers. Hotels using Selfbook can add Affirm to their checkout flow in a few simple clicks, which can help further drive revenue and direct bookings.

Interested in driving more direct bookings at your hotel? Book a demo with Selfbook today.

About Selfbook

Uniquely positioned at the intersection of fintech and hospitality, Selfbook revolutionizes hotel bookings and payments from the inside out. Working in tandem with hotels’ existing technology systems, Selfbook enhances what matters most to hotels, including direct conversion, revenue, cash flow control, and security. Built by a team of hospitality veterans, Selfbook’s product suite provides a refreshingly effortless user experience for guests and hoteliers alike. Selfbook is committed to empowering hotels worldwide with modern e-commerce solutions tailor-made for the hospitality industry.

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 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.

Rates from 0-36% APR. Payment options through Affirm are subject to an eligibility check, may not be available everywhere, and are provided by these lending partners: affirm.com/lenders. Options depend on your purchase amount, and a down payment may be required. For licenses and disclosures see affirm.com/licenses. CA residents: Loans by Affirm Loan Services, LLC are made or arranged pursuant to a California Finance Lender license.

AFRM-F

View source version on businesswire.com: https://www.businesswire.com/news/home/20230815847782/en/

Press

Affirm

Alex Rafter

press@affirm.com

(650) 398-2715



Selfbook

Haley Crawford

marketing@selfbook.com

Source: Affirm

FAQ

What is the partnership between Affirm and Selfbook about?

The partnership enables approved US-based hotels to offer flexible payment options with interest as low as 0%, leading to a potential increase in direct bookings and revenue.

How does the partnership benefit hotels and consumers?

Hotels can offer personalized payment options to guests, potentially accelerating growth during the busy summer travel season and beyond. Consumers can pay over time with no late or hidden fees.

What impact does Affirm's payment method have on hotels?

More than 5% of bookings at The Kartrite Resort & Indoor Waterpark were paid for using Affirm throughout July 2023, indicating consumer interest and adoption of the payment method.

How does the partnership align with industry trends?

Affirm merchants typically see a 60% lift in average order value, increased conversion, and reach new customers, suggesting potential benefits for hotels using Selfbook.

How can hotels integrate Affirm into their checkout flow?

Hotels using Selfbook can add Affirm to their checkout flow in a few simple clicks, potentially driving revenue and direct bookings.