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Newegg Brings Affirm’s Flexible Payment Options to Canada
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Rhea-AI Summary
Newegg Commerce (NASDAQ: NEGG) and Affirm (NASDAQ: AFRM) have expanded their partnership to Canada, enhancing payment options for customers on Newegg.ca. The integration allows eligible customers to use Affirm to pay over time for purchases of $100 CAD or more, with no late fees or hidden costs. The initiative aims to provide Canadian consumers with the same flexible shopping experience previously offered in the U.S. since 2021. Newegg's Senior Category Manager, Danny Yip, anticipates positive reception from Canadian customers, especially ahead of the holiday season.
Positive
Partnership expansion into Canada enhances payment options for Newegg customers.
No late fees or hidden costs associated with Affirm's payment plans.
Potential increase in customer satisfaction and sales during the holiday season.
Negative
None.
RICHMOND HILL, Ontario--(BUSINESS WIRE)--
Newegg Commerce, Inc. (NASDAQ: NEGG), a leading global technology e-commerce retailer, and Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced the expansion of their partnership into Canada, bringing increased payment flexibility and transparency to customers shopping on Newegg.ca. Eligible customers can now use Affirm to pay over time for their purchases on Newegg.ca. Newegg has been offering Affirm to its U.S. customers since 2021.
Affirm is coming to Newegg.ca (Graphic: Newegg)
Similar to Newegg’s U.S. e-commerce site, Newegg.ca customers who select Affirm as a payment option at checkout will go through a quick and free soft credit check that won’t impact their credit score. In seconds, Affirm's technology will determine available payment options for each customer. If approved, eligible customers will be able to split their purchases of $100 CAD or more. From the start, eligible customers will know how many payments they have and when they'll be done paying. Even if they're late or miss a payment, a customer’s total payment amount will not increase. They will also not be charged a late or hidden fee.
“Our Canadian customers now have the same benefits and shopping flexibility with Affirm that we have been offering our U.S customers since 2021,” said Danny Yip, Senior Category Manager for Newegg Canada. “Unlike other financing options, Affirm’s platform doesn’t charge late fees and allows approved customers to choose their preferred payment plan at checkout. We expect our Canadian customers will appreciate Affirm’s flexible payment option for their tech purchases.”
“Consumers are voting with their wallets by adopting transparent and flexible payment methods like Affirm,” said Vassil Chalashkanov, Affirm’s Country Manager, Canada. “Nearly three out of four Canadians have their budget top-of-mind when shopping. With the holiday season just around the corner, we are excited to be expanding our relationship with Newegg into Canada and enabling eligible consumers to purchase their favorite tech products over time so they can enjoy gifts without gotchas.”
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.
About Newegg
Newegg Commerce, Inc. (NASDAQ: NEGG), founded in 2001 and based in the City of Industry, Calif., near Los Angeles, is a leading global online retailer for PC hardware, consumer electronics, gaming peripherals, home appliances, automotive and lifestyle technology. Newegg serves businesses’ e-commerce needs with marketing, supply chain, and technical solutions in a single platform. For more information, please visit Newegg.ca or Newegg.com.
Newegg Canada’s distribution center and offices are in Richmond Hill, Ontario.
This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinion, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although Newegg Commerce Inc. (“Company”) believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. The Company's SEC filings are available at http://www.sec.gov.
