Walmart announced that the buy now, pay later shopping option is now available to more than 4,500 stores, as part of the expanded partnership with Affirm Holdings.
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Buy Now, Pay Later at Walmart Stores
During the holiday season, retail companies are expecting a surge of customers. In a recent Affirm research, it was revealed that 54% of Americans are looking for buy now, pay later options in stores. More than half of the consumers would also delay or cancel their purchase without Affirm's payment option.
After the announcement, Affirm's shares quickly rose as high as 16.1%. Customers can divide payments from three to 24 months through Affirm. The minimum purchase must be at least $144 and the financing is limited to $4,000.
The buy now, pay later option will be offered upon scanning purchases at Walmart's self-checkout kiosks. Shopper must also log into Affirm's app or website and input the last four digits of their social security number.
Walmart, Affirm Ride Holiday Shopping Spree
Holidays mean boosted sales for retail stores like Walmart. According to SVP of revenue at Affirm, Pat Suh, offering the buy now, pay later option at Walmart "will help even more consumers increase their purchasing power during the holiday shopping season and beyond."
On December 23, shoppers and retailers will celebrate the "Super Saturday" event which refers to the final Saturday before Christmas. The event is considered crucial as retailers are expecting a huge surge of customers who are eyeing to grab last-minute deals.
Affirm previously partnered with e-commerce giant Amazon during Black Friday. The buy now, pay later contributed to the sales as the payment option was offered to customers upon checkout.
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