LAS VEGAS--(BUSINESS WIRE)--SHOPTALK – Affirm, created by Max Levchin to revolutionize the banking industry, today announced its latest partnerships with notable brands Expedia.com and Eventbrite. This marks Affirm’s entry into offering monthly payments for travel and ticketing purchases.
Expedia, Inc. - one of the world’s leading travel companies with an extensive brand portfolio that includes Orbitz, Hotels.com, Travelocity, Hotwire, HomeAway and trivago - is leading Affirm’s expansion into travel. Eventbrite, a leading global ticketing and registration platform that powers more than two million events each year, is doing the same for ticketing.
“We’re always looking for new ways to make it possible for more people to travel – especially during the summer vacation season when kids are out of school – but, not everyone has the money in the bank or a credit card to do it, and Affirm gives them a new way to pay that may better fit their budget,” said David Coons, senior director of global product for Expedia, which is introducing Affirm first for hotel bookings over $200 made on its US Expedia.com site.
"Our focus is solving meaningful problems for our organizers and attendees with world-class products and innovation,” said Laurent Sellier, VP of Product at Eventbrite. "We host a wide variety of events on our platform including larger and multi-day conferences and festivals, which can be spendy, so we’re delighted that through Affirm we will be able to give more people access to amazing live experiences.”
Today, Affirm partners with over 700 retailers to give shoppers the flexibility to buy now and make monthly payments for their purchases. Merchants who offer Affirm experience significant sales performance improvements when they use it as a consumer acquisition tool to differentiate their products and services. Specifically, several merchants have seen higher average order values, conversion rates, and repeat purchasing by offering Affirm and promoting it through their onsite and offsite marketing.
“Affirm was created to establish a new paradigm in banking, one that offers trustworthy, accountable, and accessible financial products and services that are aligned with consumers’ best interests,” said Levchin, Affirm’s CEO. “The unintended consequence of this was the incredible impact we’ve had on our retailer partners’ businesses. We didn’t expect that providing a simpler, more transparent option for shoppers would create so much upside for retailers, but the results confirm that consumers are more likely to transact when Affirm is available.”
Last month Affirm acquired the personal finance management app maker Sweep.co following a $100 million Series D round of equity funding led by Peter Thiel’s Founders Fund. Later this year, Affirm plans to roll out additional financial services directly to consumers.
Affirm offers services that empower consumers to advance their financial well-being. Our mission is to revolutionize the banking industry to be more accountable and accessible to consumers. Today, shoppers have the flexibility to buy now and make simple monthly payments for their purchases made with Affirm. Unlike existing payment options that may have compounding interest and unexpected costs, Affirm shows customers upfront exactly what they’ll owe — with no hidden fees and no surprises. Also, Affirm reaches a broader population of consumers through advanced technology and analytics that look beyond traditional FICO scores. These features increase customer satisfaction over other options.