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Providing Merchants More Options to Offer Consumers Transparent and Flexible Payments
SAN FRANCISCO, May 24, 2022--(BUSINESS WIRE)--WooCommerce, the flexible, open-source commerce solution built on WordPress, and Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced a deepened partnership to provide WooCommerce merchants the opportunity to offer consumers the ability to pay over time through Affirm. WooCommerce has 3.7 million merchants, including brands such as Gardyn, Tonal, Mint Mobile & Teeter.
Eligible WooCommerce businesses will now be able to seamlessly offer Affirm at checkout in a few simple clicks in the U.S., and in Canada via PayBright, an Affirm company and one of Canada's leading providers of installment payment plans. Approved customers will be presented with either the option to split their purchase into four interest-free biweekly payments, or be able to select from monthly payment terms with interest as low as 0% APR.
"Affirm has proven to be a fantastic partner. We’re excited to be expanding our partnership by allowing even more merchants the opportunity to provide flexible pay-over-time solutions to their customers," said Aleksandra Bettin, Vice President of Business Development at WooCommerce.
Wayne Pommen, Senior Vice President of Canada at Affirm, commented, "As a global partnership, WooCommerce merchants will be able to offer the ability to pay over time with Affirm in Canada through PayBright, while also positioning Affirm and WooCommerce to support merchants in additional geographies in the future."
"Our expanded global partnership with WooCommerce will unlock greater opportunities for our businesses as we empower more merchants with our solutions, including our thousands of shared partners," said Scott Williams, Vice President of Strategic Partnerships at Affirm.
"At Gardyn, we believe that eating healthy and delicious food should be easy, affordable, and better for the planet," said Laurie Caldwell, Director of Ecommerce at Gardyn. "By offering Affirm through WooCommerce’s platform, we’ve been able to further expand access to sustainable food by providing consumers the ability to purchase and grow top-quality produce with a payment option that puts their interests first. Consumers are more than four times more likely to convert with Affirm compared to other payment options, and also average higher cart sizes, so they’re growing more tasty, nutritious and environmentally-friendly produce."
When paying with Affirm, consumers will be shown the total cost of their purchase up front and never pay more than what they agree to at checkout. Offering Affirm at checkout can drive overall sales, increase average order value, and increase customer repurchase rates. Interested merchants can learn more about Affirm here.
Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network — one based on trust, transparency and putting people first — we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | Twitter | TikTok.
WooCommerce is the leading open-source ecommerce platform, powering 28% of the top million online stores (BuiltWith). Built on WordPress, we empower anyone, anywhere, to sell anything with truly unlimited extensibility, flexibility, and control over how they build and evolve their business. Founded in 2011 and acquired by Automattic in 2015, WooCommerce is a fully distributed company with employees based around the world. www.woocommerce.com
U.S. customers: Rates from 0-30% APR. Payment options through Affirm are subject to eligibility, and are provided by these lending partners: affirm.com/lenders. CA residents: Loans by Affirm Loan Services, LLC are made or arranged pursuant to California Finance Lender license 60DBO-111681.
Canada customers: Payment options through PayBright, Inc. ("PayBright"). Rates will be 0–30% APR (subject to provincial regulatory limitations). APR offered is based on creditworthiness and subject to an eligibility check. Not all customers will be eligible for 0% APR. Downpayment maybe required.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220524005079/en/
Ryan Phillips & Nicholas Fisher