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SAN FRANCISCO - Affirm (NASDAQ:AFRM), the buy-now-pay-later giant with a market capitalization of $23.47 billion and impressive 38.8% year-over-year revenue growth, announced Tuesday an expanded partnership with home goods retailer Wayfair Inc. (NYSE:W) that integrates Affirm’s payment solution directly at checkout across all Wayfair brands. According to InvestingPro analysis, Affirm’s stock has surged over 67% in the past six months, reflecting strong investor confidence in its business model.
The integration comes ahead of Wayfair’s annual Way Day sales event scheduled for October 26-29 and the upcoming holiday shopping season. Customers shopping online or in physical stores can now select Affirm as a payment option when purchasing items from Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.
The expanded partnership builds on a relationship that began in 2017. Shoppers who choose Affirm can select from biweekly or monthly payment plans extending up to 36 months, with interest rates starting at 0% APR, according to the company’s press release.
"Over the past eight years, we’ve seen how much Wayfair shoppers value using Affirm to bring home the items they love," said Curtis Crawford, head of fintech and loyalty at Wayfair. "Integrating their pay-over-time solution directly at checkout was a natural next step."
For in-store purchases, customers can scan a QR code with their smartphone to access the payment option. Online shoppers can select Affirm during the checkout process. Both methods require customers to complete an eligibility check before receiving personalized payment plan options.
Pat Suh, SVP of Revenue at Affirm, noted that home goods represent a significant category for Affirm users. The company’s five-year revenue CAGR of 45% underscores its strong market position. Discover more insights about Affirm’s growth potential and 12+ additional ProTips with an InvestingPro subscription, including exclusive access to comprehensive Pro Research Reports covering 1,400+ top stocks.
The payment plans are subject to eligibility requirements and may not be available in all locations. Affirm states that it does not charge late fees or hidden fees on its payment plans.
In other recent news, Affirm Holdings Inc. has been the focus of several analyst updates and business developments. Rothschild Redburn upgraded Affirm’s stock from Neutral to Buy, citing growth potential and raising the price target to $101.00, suggesting a potential 30% upside. Meanwhile, Mizuho reiterated its Outperform rating with a price target of $108.00, emphasizing potential benefits from OpenAI’s recent commerce initiatives, including a partnership with Shopify. BTIG maintained a Neutral rating for Affirm, noting stable delinquency trends in the company’s asset-backed securities data as a positive sign.
Additionally, Affirm has entered into a partnership with Ace Hardware to offer buy now, pay later options at participating stores across the United States. This collaboration allows customers to access flexible payment plans for purchases starting at $50 by scanning a QR code at checkout. However, Affirm’s stock faced a decline amid broader concerns about consumer credit quality, which also affected other consumer finance companies like Capital One and Synchrony Financial. These developments reflect Affirm’s ongoing efforts to expand its partnerships and maintain financial stability while navigating market challenges.
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