Retailers in the U.S. can now offer expanded payment access to customers
Snap Finance (Snap), provider of fast, flexible, pay-over-time digital financing options, announced a new partnership with Affirm, a transparent alternative to credit cards. Retailers using Snap can now seamlessly integrate Affirm’s additional financing options to capture more revenue from high-intent shoppers and offer alternative payment options to the 40 percent of consumers who are building or rebuilding their credit profiles.
“This strategic partnership between Snap and Affirm underscores our shared values of providing a flexible, transparent pay-over-time experience for retailers and their customers”
Offering multiple pay-over-time options can help retailers increase conversion rates for in-store and online purchases. While most pay-over-time financing solutions leave behind consumers who do not qualify for financing under traditional credit models, Snap and Affirm help retailers offer a pay-over-time option that takes into consideration more than a consumer’s credit score when making underwriting decisions. Of course, consumers will see the amount they’ll pay upfront with no hidden or late fees.
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“This strategic partnership between Snap and Affirm underscores our shared values of providing a flexible, transparent pay-over-time experience for retailers and their customers,” said David Laycock, Chief Commercial Officer at Snap. “Snap is on a mission to redefine who can participate in the alternative payments revolution. With Affirm, Snap delivers more inclusive options for retailers across sizes and categories, helping them build lasting relationships with their customers. Retailers benefit when their customers can pay over time on a schedule that works for their budget.”
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Consumers can apply for Affirm with just a few pieces of information – without impacting their credit score. Underwriting decisions are made in seconds at checkout, capturing more conversions and offering a flexible pay-over-time option that fits a variety of consumer needs.
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