Affirm and Stripe have announced that they have expanded their collaboration by launching the first BNPL integration on Stripe Terminal.
Through this integration, US and Canadian merchants are set to be able to provide Affirm’s flexible, transparent payment options to in-store shoppers directly through Stripe Terminal, which, according to the company, has over one million devices in use.
Initially, Stripe and Affirm teamed up in May 2022, making the latter’s Adaptive Checkout available to Stripe users in the US. Businesses utilising Stripe were set to be able to add this technology to their checkout experience, with eligible customers having the option to leverage Affirm to divide the cost of purchases ranging from USD 50 to USD 30,000.
Expanding payment options in Canada and the US
With the extension of Stripe and Affirm’s strategic partnership, shoppers at participating merchant locations will see an option to Pay with Affirm when they are checking out on Stripe Terminal. Afterwards, they will need to scan a QR code and go through Affirm’s eligibility check. The company only approves consumers who can responsibly repay and does not charge late or hidden fees. Once approved, individuals can choose from a range of tailored payment options, which span 30 days to 60 months and support cart sizes from USD 35 to USD 30,000.
Furthermore, by providing Affirm at checkout, merchants can benefit from the ability to scale overall sales, boost average order value, and reach new customers. As detailed by Affirm’s officials, considering that over 80% of retail spend is still conducted in physical stores, offering solutions through Stripe Terminal provides the company with a new way to help merchants expand their operations and meet customer demands, including more choice, transparency, and control at checkout.
Latest news from Affirm
Just before this announcement, Affirm expanded its partnership with Google Pay and integrated with autofill on Chrome. The initiative was set to enable to company to make its flexible, secure, and transparent payment options available through autofill on Chrome. Additionally, the move built on Affirm’s launch on Google Pay in early 2024, which enabled eligible customers to pay over time with Affirm wherever the Google Pay button was accepted.
