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News

Affirm and Stripe expand partnership for merchant revenue growth in Canada

Friday 14 April 2023 12:01 CET | News

Payment network Affirm has announced that it is expanding its relationship with financial infrastructure platform Stripe to Canada. 

Affirm’s Adaptive Checkout is now available to all eligible Canadian Stripe users, allowing merchants and platforms to add this pay-over-time option to their checkout experience. Stripe joins over 240,000 merchants and platforms offering Affirm’s payment options, including integrated partnerships in Canada with Apple, Hudson's Bay, Browns Shoes, and Samsung. 

 

Aim of the expansion

According to a Stripe representative, Stripe’s work with Affirm will help them continue to scale and adapt with changing consumer preferences. By adopting Affirm, Stripe has seen its users boost their average order value with flexible payment plans. Specifically, businesses on Stripe that adopt Affirm have seen an average 41% higher average order value with Affirm compared to their existing payment methods.

Affirm and Stripe expand partnership for merchant revenue growth in Canada

An Affirm representative states that since launching in the U.S. with Stripe, they have helped businesses better serve their customers and drive growth by providing flexible payment options. Now the partners will expand their cooperation and strengthen their position as a provider in Canada. By providing consumers with choices to select the custom payment plan that is right for them, Affirm Adaptive Checkout can increase sales and conversion and is now available to Stripe’s Canadian users.

 

What is Adaptive Checkout

Adaptive Checkout uses Affirm’s smart decision engine to make a real-time underwriting decision and offer consumers optimised bi-weekly and monthly pay over time options. By providing Adaptive Checkout, Canadian Stripe users now have the ability to offer a variety of payment options to their customers that range from six weeks to 36 months for as low as 0% APR. Consumers will not be subject to any late fees or hidden charges.


Consumers who select Affirm as a payment option during checkout go through a credit check that does not impact their credit score. If approved, eligible customers will be able to split their purchases into bi-weekly or monthly payments. Even if users are late or miss a payment, a customer’s total payment amount will not increase as Affirm does not charge late or hidden fees.

Source: Link


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Keywords: partnership, expansion, payment processing, BNPL, merchant
Categories: Payments & Commerce
Companies: Affirm, Stripe
Countries: Canada
This article is part of category

Payments & Commerce

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Affirm

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Stripe

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