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Investing.com -- Affirm Holdings Inc (NASDAQ:AFRM) stock rose 3.2% Tuesday after the buy-now-pay-later provider announced an expanded partnership with online furniture retailer Wayfair Inc (NYSE:W).
The expanded deal brings Affirm’s payment options directly to Wayfair’s checkout process, both online and in-store, just ahead of Wayfair’s "Way Day" sales event running from October 26-29 and the holiday shopping season. The integration covers all Wayfair family brands, including Joss & Main, AllModern, Birch Lane, and Perigold.
Under the partnership, eligible shoppers can select Affirm at checkout and, after a quick eligibility check, receive customized payment plans ranging from biweekly to monthly installments over periods of up to 36 months. Affirm emphasizes that some payment options will have rates as low as 0% APR with no late or hidden fees.
The two companies have been working together since 2017, but this expanded integration makes Affirm’s payment solution more prominent at the point of purchase.
"Home is where many shoppers choose Affirm, and Wayfair has been an important partner in bringing that choice to life," said Pat Suh, SVP of Revenue at Affirm. "With this expanded partnership, we’re making it even easier for consumers to discover Affirm and shop for their homes with payment options they can trust."
Curtis Crawford, head of fintech and loyalty at Wayfair, noted that the company has observed strong customer interest in Affirm’s payment options over their eight-year relationship, making the checkout integration "a natural next step."
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