BigCommerce and Affirm Expand Partnership to Offer Affirm’s Adaptive Checkout™ as the Preferred Pay-Over-Time Solution

Rhea-AI Summary

BigCommerce has expanded its multi-year partnership with Affirm, enabling merchants to integrate Affirm’s Adaptive Checkout™ for flexible payment options. Customers can choose bi-weekly or monthly payments on purchases between $50 and $17,500. Key benefits include potential increases in average order values by 85% and cart conversion rates by 26%. Merchants will receive full payment upfront, while Affirm manages payment collections. This partnership aims to enhance consumer affordability and boost merchant sales through greater accessibility to payment options.

Positive

• Merchants can offer bi-weekly and monthly payment options, increasing sales potential.
• Affirm integration reported up to 85% higher average order values and 26% increase in cart conversions.
• Access to Affirm's shopper network of over 12.7 million customers.
• Merchants paid upfront for sales, enhancing cash flow.

Negative

• None.

BigCommerce merchants can now offer Affirm’s flexible and transparent bi-weekly and monthly payment options to their customers

AUSTIN, Texas--(BUSINESS WIRE)-- BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established B2C and B2B brands, today announced an expanded, multi-year partnership with Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth. With Affirm as BigCommerce’s preferred pay-over-time solution partner, BigCommerce merchants of all sizes will now be able to use Affirm’s Adaptive Checkout™ product and provide eligible customers with the flexibility and control to choose which payment schedule works best for them.

“Innovative, digital payment options have become increasingly essential for merchants to offer their customers at checkout. Additionally, consumers, especially younger generations, are demanding transparency from their chosen providers,” said Mark Rosales, vice president of payments at BigCommerce. “Affirm’s scale and reliability, combined with the unparalleled flexibility and transparency they offer consumers, make them an obvious choice and great pay-over-time solution for our merchant network.”

Accessible within the BigCommerce Control Panel, merchants can enable and display Affirm’s pay-over-time solution at checkout. When they do, eligible customers will see bi-weekly and monthly payment options side-by-side thanks to Affirm’s smart proprietary technology which makes real-time underwriting decisions and surfaces customized payment schedules. True to Affirm’s long-standing commitment to never charge late or hidden fees, consumers will never owe more than they agree to upfront.

Key benefits of this extended partnership include:

• Offer smarter payment options. Merchants can now deliver custom payment options, offering bi-weekly and monthly payment options side by side for eligible customers, on purchases ranging from $50 to $17,500.
• Increase brand awareness and attract more customers. Merchants will have the opportunity to tap into Affirm’s shopper network of 12.7M+ while maximizing marketing efforts with promotions and messaging tools to attract new customers.
• Drive conversions and add higher order values. Merchants who offer Affirm at checkout have reported as much as 85% higher average order values, 26% increase in cart conversions and 20% repeat purchase rates when compared to other payment methods. Merchants can also create more purchasing opportunities for customers with merchandising features like prequalification and dynamic price messaging, helping drive conversion and average order value.

BigCommerce merchants who elect to offer Affirm to their customers do not have to worry about collecting future payments from customers who checkout with Affirm. They will receive the full purchase amount, less fees, upfront (within 1-3 business days of a purchase), and Affirm will handle payment collection.

“More than ever, consumers are looking for flexible ways to pay that deliver affordability, predictability and control. In fact, recent Affirm data shows that nearly two-thirds of consumers plan to use a buy now, pay-over-time solution for purchases this year,” said Scott Williams, vice president of strategic partnerships at Affirm. “Now, tens of thousands of merchants on BigCommerce’s platform can offer Affirm to their customers. Doing so will not only help them better serve their customers but will also help them increase sales in the process.”

To learn more about the BigCommerce and Affirm partnership, please visit https://www.bigcommerce.com/affirm/.

About BigCommerce

BigCommerce (Nasdaq: BIGC) is a leading open software-as-a-service (SaaS) ecommerce platform that empowers merchants of all sizes to build, innovate and grow their businesses online. BigCommerce provides merchants sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries use BigCommerce to create beautiful, engaging online stores, including Ben & Jerry’s, Molton Brown, S.C. Johnson, Skullcandy, SoloStove and Vodafone. Headquartered in Austin, BigCommerce has offices in London, Kyiv, San Francisco, and Sydney. For more information, please visit www.bigcommerce.com or follow us on Twitter, LinkedIn, Instagram and Facebook.

BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220816005147/en/

Dana Marruffo

BigCommerce

dana.marruffo@bigcommerce.com

Affirm

Ryan Phillips

press@affirm.com

(973) 820-1820

Source: BigCommerce

FAQ

What are the benefits of the BigCommerce and Affirm partnership for merchants?

The partnership allows merchants to offer flexible payment options, potentially increasing average order values by 85% and cart conversions by 26%.

How does Affirm's payment solution work for BigCommerce merchants?

Merchants can integrate Affirm’s Adaptive Checkout™, providing customers with bi-weekly and monthly payment options on purchases ranging from $50 to $17,500.

What is the significance of the partnership between BIGC and AFRM?

The partnership enhances payment flexibility for customers, improves merchant sales potential, and provides upfront payment for merchants without the hassle of payment collection.

When was the partnership between BigCommerce and Affirm announced?

The expanded partnership was announced on a recent date, although the specific date is not provided in the press release.