Affirm has announced the expansion of its partnership with global industry payment services provider Worldpay for Platforms with embedded payment integration.
Following this announcement, the new partnership will integrate Affirm into the company’s embedded payments offering for software platforms. In addition, both companies aim to make it easier for businesses to offer flexible, transparent payment options at checkout, while delivering Affrim’s suite of solutions to more platforms, merchants, and customers, as well as removing friction.
The focus of the collaboration will remain on giving software platforms and their merchants access to optimised tools and products for their development and growth. Affirm is set to deliver results for businesses and improved experiences for consumers while being the BNPL partner for Worldpay for Platforms.
More information on the Affirm x Worldpay for Platforms expanded partnership
According to the official press release, Worldpay for Platforms was developed in order to provide embedded payments for several SaaS companies and institutions around the world. With this integration, platforms will be given the possibility to offer Affirm as a payment method to their merchants, as well as to provide eligible end customers with more flexible, transparent ways to pay.
In addition, with Affirm, approved consumers can split purchases into budget-friendly biweekly or monthly payments, with rates starting at 0% APR. At the same time, plans range from 30 days to 60 months and support cart sizes from USD 35 to USD 30.000. Affirm is set to only approve customers it believes can and will have the ability to repay, and is expected not to charge late or hidden fees.
This announcement comes after Worldpay announced the launch of its new Embedded Finance Engine product, which includes embedded lending, banking, and card issuing services for platform partners. The Embedded Finance Engine was developed as a new suite of optimised financial service products that its software platform partners and collaborators will have the possibility to quickly integrate in order to drive higher retention, as well as revenue growth. This process was set to take place while streamlining their tech stacks and exosystems as well.
For more information about Worldpay, please check out their detailed profile in our dedicated, industry-specific Company Database.
