SANTA MONICA, Calif.--(BUSINESS WIRE)--Verishop Inc. is excited to announce a partnership with financial technology company Affirm Inc., giving customers more choice at checkout to pay for their purchases over time.
Through Affirm’s consumer-friendly alternative to traditional credit cards, Verishop customers now have a simple, no-interest payment option1 allowing them to spread out the cost of a purchase over three easy, monthly payments. Whether a customer is redecorating their home, finding that perfect outfit or maintaining their beauty routine, the partnership with Affirm can help Verishop customers shop for all their lifestyle needs with confidence.
To see if they qualify, customers only need to provide five simple pieces of information2 and a credit decision is made within seconds. Monthly payments are shown in real dollars instead of hard-to-calculate percentages so customers will know exactly what they owe with no hidden or late fees. Customers never pay a dollar more than they agree to at checkout. The pay-over-time option is available for purchases ranging from $50 to $17,500 with a 30-day payment deferral available for smaller amounts.
Verishop was founded to bring joy back to online shopping through our tech-driven e-commerce platform. We’re building an experience that enables the discovery of new products and brands on a platform that delivers the trust and convenience that today’s shoppers deserve.
With Affirm’s commitment to empowering customers with accessible and transparent financial tools, we at Verishop are glad to partner with a company that’s also helping to take some of the stress out of purchasing decisions.
“Whenever a customer is looking for a quality branded product, we want to be their first destination by providing an experience that’s better for shoppers,” said Imran Khan, co-founder and CEO of Verishop. “Our partnership with Affirm will allow our customers to pay over time for their favorite brands, making shopping more convenient.”
“Our goal at Affirm is to give more people access to the things they need and love,” said Max Levchin, co-founder and CEO of Affirm. “Whether it’s a great bag or a new bedding set, we’re excited to help fashion enthusiasts shop with confidence – having complete transparency into the total cost of the purchase.”
Affirm’s easy pay-over-time offering is now available for Verishop customers.
Verishop is an elevated e-commerce platform of curated brands combined with the convenience of free two-business-day shipping and free returns. Verishop aims to be the go-to shopping destination for your affordable-luxury needs and wants -- from women’s and men’s fashion and accessories, to home décor, beauty and wellness. Shoppers can find a selection of products hand-picked by our team from more than 200 brands especially for the fashion- and design-minded consumer.
Driven by tech and rooted in retail, Verishop was founded by Imran Khan, former chief strategy officer of Snapchat maker Snap Inc., and Cate Khan, former senior vice president at Amazon’s Quidsi business. The company counts venture firms Lightspeed Venture Partners among its backers. Additional information can be found at http://verishop.com or on Instagram at http://instagram.com/verishop.
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 upfront 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 including 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, Member FDIC.
1For example, if the total cost of a purchase was $90 spread out over 3 months at 0% APR, the customer would pay $30 per month, totaling $90.
2Affirm only needs five simple pieces of information for most credit decisions: name, phone number, email address, date of birth and the last four digits of their social security number.