Affirm and Walmart Announce Omnichannel Partnership
SAN FRANCISCO – February 27, 2019 – Affirm, Inc., the financial technology company that provides transparent and consumer-friendly payment alternatives to cash and traditional credit, today announced a partnership with Walmart that will give shoppers the option of using Affirm to pay for their purchases over time at nearly 4,000 Supercenters nationwide. Walmart will begin to integrate Affirm as a payment option on Walmart.com over the coming weeks.
The Affirm experience at Walmart Supercenters is designed to be transparent, seamless and integrated with a consumer’s typical shopping experience. Customers can check eligibility through affirm.com/shop/walmart before they head into the store or while they shop, using their desktop or mobile devices. A decision is made in real time, without impacting their credit scores.
Once approved, shoppers select a repayment term of 3, 6, or 12 monthly installments and are shown the exact repayment amount they’ll owe each month, with interest displayed in simple dollars rather than as a hard-to-calculate interest rate. There are no hidden or late fees, so users will never pay a dollar more than they agree to. For instore shoppers, they will receive a unique barcode that is scanned by a store associate at the register to complete a purchase.
“Walmart serves millions and has become a leader in the retail landscape with its commitment to help shoppers ‘save money and live better,’ which closely mirrors our own mission to ‘improve lives’ with our products,” said Max Levchin, founder and CEO at Affirm. “I’m looking forward to introducing Walmart customers to a modern and innovative way to buy the things they need.”
“We are focused on providing customers transparent, easy, and convenient ways to pay, and offering Affirm both in stores and online is one way to do that,” said Daniel Eckert, Senior Vice President of Walmart Services & Digital Acceleration. “Providing multiple ways to shop and finance select items with no hidden fees is an important way we deliver on our promise to help our customers save money and live better.”
Affirm is available as a payment option on purchases ranging from $150 to $2,000. Customers can shop for thousands of items including electronics, home and garden, automotive, furniture and sporting goods at Walmart Supercenters nationwide (except Iowa, West Virginia and Puerto Rico) and online in the coming weeks. Select items, including alcohol, tobacco, groceries, pharmacy and personal care, firearms and money services, are not eligible to be purchased using Affirm.
Affirm is already available at Walmart Inc. owned brands Allswell and Hayneedle.
Affirm was founded with a goal to create honest financial products and services that empower consumers and improve lives. Our goal is to revolutionize the banking industry to be more accountable and accessible to consumers. Today, Affirm provides millions of shoppers an alternative to traditional credit cards at the point of sale, giving them the flexibility to buy now and make simple monthly payments for their purchases. Unlike payment options that have compounding interest and unexpected costs, Affirm shows customers up front exactly what they’ll pay each month — with no hidden fees and no surprises. Affirm partners with over 2,000 merchants to give shoppers the option to pay with Affirm at checkout with well-known brands across retail, including home furnishings, travel, personal fitness, electronics, apparel and beauty, and more. Loans are made in partnership with Affirm’s originating bank partner Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC.
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better — anytime and anywhere — in retail stores, online, and through their mobile devices. Each week, over 275 million customers and members visit our more than 11,300 stores under 58 banners in 27 countries and eCommerce websites. With fiscal year 2019 revenue of $514.4 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/walmart and on Twitter at twitter.com/walmart.