WooCommerce and Affirm Expand Partnership and Launch in Canada

Rhea-AI Summary

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.

Positive

• Expansion of partnership with WooCommerce to 3.7 million merchants.
• Consumers can choose flexible payment options, enhancing conversion rates.
• Affirm's transparent payment options may increase average order values.

Negative

• None.

Providing Merchants More Options to Offer Consumers Transparent and Flexible Payments

SAN FRANCISCO--(BUSINESS WIRE)--

WooCommerce, the flexible, open-source commerce solution built on WordPress, and Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced a deepened partnership to provide WooCommerce merchants the opportunity to offer consumers the ability to pay over time through Affirm. WooCommerce has 3.7 million merchants, including brands such as Gardyn, Tonal, Mint Mobile & Teeter.

Eligible WooCommerce businesses will now be able to seamlessly offer Affirm at checkout in a few simple clicks in the U.S., and in Canada via PayBright, an Affirm company and one of Canada's leading providers of installment payment plans. Approved customers will be presented with either the option to split their purchase into four interest-free biweekly payments, or be able to select from monthly payment terms with interest as low as 0% APR.

“Affirm has proven to be a fantastic partner. We’re excited to be expanding our partnership by allowing even more merchants the opportunity to provide flexible pay-over-time solutions to their customers,” said Aleksandra Bettin, Vice President of Business Development at WooCommerce.

Wayne Pommen, Senior Vice President of Canada at Affirm, commented, “As a global partnership, WooCommerce merchants will be able to offer the ability to pay over time with Affirm in Canada through PayBright, while also positioning Affirm and WooCommerce to support merchants in additional geographies in the future.”

“Our expanded global partnership with WooCommerce will unlock greater opportunities for our businesses as we empower more merchants with our solutions, including our thousands of shared partners,” said Scott Williams, Vice President of Strategic Partnerships at Affirm.

“At Gardyn, we believe that eating healthy and delicious food should be easy, affordable, and better for the planet,” said Laurie Caldwell, Director of Ecommerce at Gardyn. “By offering Affirm through WooCommerce’s platform, we’ve been able to further expand access to sustainable food by providing consumers the ability to purchase and grow top-quality produce with a payment option that puts their interests first. Consumers are more than four times more likely to convert with Affirm compared to other payment options, and also average higher cart sizes, so they’re growing more tasty, nutritious and environmentally-friendly produce.”

When paying with Affirm, consumers will be shown the total cost of their purchase up front and never pay more than what they agree to at checkout. Offering Affirm at checkout can drive overall sales, increase average order value, and increase customer repurchase rates. Interested merchants can learn more about Affirm here.

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 | TikTok.

About WooCommerce
WooCommerce is the leading open-source ecommerce platform, powering 28% of the top million online stores (BuiltWith). ​Built on WordPress, we empower anyone, anywhere, to sell anything with truly unlimited extensibility, flexibility, and control over how they build and evolve their business. Founded in 2011 and acquired by Automattic in 2015, WooCommerce is a fully distributed company with employees based around the world. www.woocommerce.com

Follow WooCommerce on social media: Instagram | Facebook | Twitter

​​AFRM-F

U.S. customers: Rates from 0-30% APR. 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.

​​Canada customers: Payment options through PayBright, Inc. (“PayBright”). Rates will be 0–30% APR (subject to provincial regulatory limitations). APR offered is based on creditworthiness and subject to an eligibility check. Not all customers will be eligible for 0% APR. Downpayment maybe required.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220524005079/en/

Affirm

Ryan Phillips & Nicholas Fisher

press@affirm.com

WooCommerce

press@woocommerce.com

Source: Affirm

FAQ

What is the recent announcement by Affirm on October 2023?

Affirm announced an expanded partnership with WooCommerce, allowing merchants to offer flexible payment options.

How many merchants can benefit from Affirm's partnership with WooCommerce?

The partnership allows 3.7 million merchants to offer Affirm's payment options.

What payment options does Affirm offer to WooCommerce merchants?

Merchants can offer consumers the option to split purchases into four interest-free payments or monthly payments starting at 0% APR.

What are the benefits for consumers using Affirm at WooCommerce?

Consumers benefit from clear payment terms, potentially increasing their purchase conversion rates.