Throughout this partnership, Affirm will be available at checkout across several Booking Holdings travel brands, while expanding on existing collaborations with KAYAK, Agoda, and Priceline at the same time.
By selecting Affirm at checkout, Booking.com clients are set to have the option to select a personalised payment plan that will be designed to work best for their budget, with the option to pay over time in either monthly or bi-weekly payments. The integration of Affirm will give travelers the opportunity to book now and pay over time, with the assurance that they will not pay more than they agreed at the moment of the checkout.
The partnership aims to provide merchants with the possibility to have increased overall sales, average order values, and conversions, as well as to reach new clients around the world. Booking.com will also join Affirm’s network of traders, which includes worldwide companies and businesses.
US-based publicly traded financial technology company Affirm had multiple partnerships and launches in the last couple of months, covering several geographic regions around the world.
At the end of July 2023, payment network Affirm announced its partnership with Honk-Kong-based global airline Cathay Pacific in order to act as its executive US pay-over-time collaborator. According to the press release published at the time, the strategic deal planned to make flights available through simple and secure monthly or bi-weekly payments, with no hidden fees and late fees being applied.
After selecting Affirm at checkout, customers who were Cathay Pacific approved were given the possibility to split the total cost of any flight into bi-weekly or monthly payments and transactions, for as low as 0% APR. Furthermore, clients were enabled to have visibility over the total cost of their purchase and were never needed to pay more than the amount agreed to upfront.
Earlier in June 2023, Amazon announced that US traders and merchants that offer Amazon Pay were given the capability to add Affirm’s Adaptive Checkout as a payment method. The deal brought Affirm’s pay-over-time technology, leveraged by multiple customers on Amazon.com and the Amazon mobile application, in order to have simple and secure transaction services.
By offering Affirm at checkout, the companies aimed to drive overall sales (as merchants that used Affirm reported 60% higher average order values when it was compared to other payment methods, as per the press release). In addition, the collaboration also sought to increase customer loyalty and optimise their overall experience.
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