SAN FRANCISCO--(BUSINESS WIRE)--Affirm, Inc., the company started by Max Levchin to provide fair and honest consumer financing, today announced it has joined the Shopify Plus Technology Partner Program to help more retailers quickly scale their online store sales by giving their customers a quick and easy alternative to credit cards.
Affirm makes it possible for shoppers at more than 1,000 retailers to pay for purchases across multiple months with transparent and simple interest loans that don’t charge compounding interest or late fees, unlike traditional credit cards. And all with little risk for retailers because Affirm pays them in full at the time of settlement and also takes responsibility for most fraud.
Shopify Inc. is the leading multi-channel commerce platform now powering more than 500,000 businesses in 175 countries. Shopify Plus is a division of Shopify that focuses on emerging brands and high-volume businesses, providing a centralized commerce platform for the next-generation of retail. While built on the same secure, reliable and scalable foundation, Shopify Plus offers dedicated products and services that specifically cater to high-growth, high-volume businesses.
“We are thrilled to welcome Affirm to the Shopify Plus Technology Partner Program. This collaboration recognizes the best-in-class solutions that, together with Shopify Plus, further enable the rapid growth and innovation possibilities of today’s modern merchant,” said Jamie Sutton, Head of Technology Partnerships, Shopify Plus.
Nearly 90 percent of consumers say they feel more positively about a brand that offers honest financing, according to research this year by Qualtrics of more than 1,000 22 to 44 year-olds in the U.S. And retailers providing Affirm’s credit card alternative report an average increase of 75% in basket size, site-wide conversion rates increases by as much as 20 percent, and revenue per visitor increases of more than 10 percent.
"We were excited to learn that Affirm and Shopify Plus have built an integration to make the Affirm implementation more simple. A few months ago, we launched with Affirm on Shopify -- the process was easy and streamlined -- we were up and running by the time we got off our kick-off call," said Justin Lapidus, General Manager of Brooklinen. "More importantly, Affirm has been a huge success with our customers!"
Affirm currently works with more than 300 retailers on Shopify and Shopify Plus including high growth merchants Purple, Leesa, Boosted Boards, Chicago Music Exchange, Brooklinen, and Drones Etc.
“Shopify is an amazing success story and a huge force behind the seismic shift to e-commerce,” said Chip Overstreet, vice president of business development at Affirm, Inc. “Shopify’s shared commitment to retailers’ success and consumer satisfaction makes the Shopify Plus Technology Partner Program a perfect fit for Affirm.”
Affirm offers services that empower consumers to advance their financial well-being. Our goal is to revolutionize the banking industry to be more accountable and accessible to consumers. Today, Affirm shoppers get 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 upfront exactly what they’ll owe — with no hidden fees and no surprises. Affirm also 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.