US-based payment network Affirm has announced an exclusive collaboration with vacation rental hospitality company Evolve.
This partnership enables eligible travellers to book vacation rentals and pay for them over time through straightforward monthly payments.
In essence, approved Evolve customers opting for Affirm at checkout can divide the total cost of bookings exceeding USD 500 into monthly payments, with rates as low as 0% APR according to the official press release. The same source emphasised that Affirm aims to adhere to a transparent approach by steering clear of late or hidden fees. Customers are presented with the upfront total cost of their purchase, ensuring they do not pay more than agreed upon.
Representatives from Evolve expressed confidence in the partnership, citing Affirm's commitment to transparency aligning with Evolve's vision to become the most trusted hospitality brand in vacation rentals. The collaboration aims to positively impact Evolve bookings and create opportunities for travel amid uncertain economic times.
They also highlighted the relevance of flexible and transparent payment options in the context of rising travel costs. The partnership with Evolve facilitates access to such payment options, allowing travellers to book trips without concerns about late fees or compound interest.
When booking with Evolve, travellers benefit from the assurance of a clean, safe, and accurately represented property. Additionally, Evolve offers a 48-hour cancellation window without penalty and provides credits valid for two years for plans changed at least 48 hours before check-in.
As part of Affirm's network of retail partners, Evolve joins more than 266,000 entities, including American Airlines, Priceline, Great Wolf Lodge, Cathay Pacific, SeatGeek, Royal Caribbean, and others. The incorporation of Affirm at checkout is expected to improve overall sales, increase average order value, and boost customer repurchase rates.
Affirm specialises in delivering transparent financial products that contrast with conventional credit cards and pay-over-time alternatives. In December 2023, Affirm expanded its services with Walmart to bring its solutions to self-checkout kiosks at over 4,500 stores in the region.
Following the announcement, Affirm provided its transparent and flexible pay-over-time options to self-checkout kiosks, with eligible shoppers being able to make monthly payments when checking themselves out in-store for their purchases, including electronics, apparel, and toys, among others.
Evolve, on the other hand, offers support for guests via vetted homes, and socially responsible bookings, and provides assistance during their stays. Additionally, Evolve collaborates with property owners, assisting them in initiating, managing, and expanding their vacation rental business with an industry-low fee.
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