Affirm Supercharges US Retail With Expansion Of J.P. Morgan Payments Partnership

Affirm Holdings Inc (NASDAQ:AFRM) announced on Tuesday the expansion of its multi-year agreement with JPMorgan Chase & Co.’s (NYSE:JPM) J.P. Morgan Payments unit, further integrating Affirm’s pay-over-time solutions into the bank’s Commerce Platform.

This collaboration allows U.S. merchants within the J.P. Morgan Payments network to offer Affirm’s flexible, transparent financing options at checkout, making it easier for consumers to manage their purchases.

According to Benzinga Pro, Affirm stock has gained over 41% in the past year. Investors can gain exposure to the stock via Pinnacle Focused Opportunities ETF (NYSE:FCUS).

The partnership comes at a time when consumer adoption of Affirm is accelerating.

Active consumers grew 23% year-over-year, reaching a record 21 million, while Gross Merchandise Volume surpassed $10 billion, reflecting a 35% year-over-year increase in the quarter ending Dec. 31, 2024.

By integrating Affirm into the checkout process, merchants can offer customers a variety of financing options, including biweekly or monthly plans.

Also Read: How Walmart- Klarna Deal Impacts Affirm? Goldman Sachs Analyst Weighs In

Affirm’s proprietary real-time underwriting technology ensures a smooth and quick eligibility check, offering flexible payment terms for purchases ranging from $35 to $30,000 with terms from 30 days to 60 months. Affirm is known for its commitment to transparency, as it does not charge any late or hidden fees.

Merchants that integrate Affirm into their checkout experience see 70% higher average cart sizes and nearly 30% fewer abandoned carts, according to Affirm’s data.

Affirm Chief Revenue Officer Wayne Pommen was excited over the expanded collaboration, noting that it significantly broadens Affirm’s reach, helping more businesses provide customers with the flexibility and transparency they expect in today’s retail environment.

AFRM Price Action: Affirm shares are trading lower by 2.89% to $51.07 at publication on Tuesday.

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