Affirm stock rises after expanded Worldpay partnership

Investing.com -- Affirm Holdings Inc (NASDAQ:AFRM) stock rose 3% Thursday following the announcement of an expanded partnership with global payment services provider Worldpay.

The expanded deal will integrate Affirm’s buy now, pay later (BNPL) services into Worldpay’s embedded payments offering for software platforms. This integration will enable platforms to offer Affirm as a payment method to their merchants, providing end customers with more flexible payment options.

Worldpay for Platforms currently serves more than 1,000 SaaS companies and has processed over $400 billion in payment volume and 4.6 billion transactions in the past 12 months. The partnership aims to extend Affirm’s reach to more platforms, merchants, and consumers.

"Together with Worldpay, we’re making it easier than ever for businesses to offer flexible, transparent payment options at checkout," said Wayne Pommen, Chief Revenue Officer at Affirm. "Through this expanded partnership, we can deliver Affirm to more platforms, more merchants, and ultimately more consumers — while removing friction every step of the way."

Matt Downs, President of Worldpay for Platforms, noted that the integration would help software partners "become the everything platform to their users while enhancing the customer experience."

Affirm’s payment plans allow approved consumers to split purchases into biweekly or monthly payments with rates starting at 0% APR. The company offers payment plans ranging from 30 days to 60 months for purchases between $35 and $30,000, with no late or hidden fees.

The company positions its services as helping businesses drive sales, increase average order value, and reach new customers through flexible payment options.

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