Affirm (NASDAQ: AFRM), the payment network known for empowering consumers and driving merchant growth, has unveiled two new Buy Now, Pay Later (BNPL) options: Pay in 2 and Pay in 30. These additions aim to provide greater choice and flexibility for consumers, ensuring affordability across a wider range of transactions.
With Affirm, consumers never owe more than the agreed upfront amount, as there are no late fees or hidden charges like compound or deferred interest. “Roughly 80% of e-commerce transactions in the United States are for purchases under $150,” noted Vishal Kapoor, Head of Product at Affirm. “Providing greater choice and flexibility is key to meeting our consumers where they are. Adding options like Pay in 2 and Pay in 30 allows us to better meet consumers’ individual preferences, enabling them to pay for purchases large or small with more options that work best for their budgets.”
New Flexible Payment Options
- Pay in 2: Split the cost of a purchase into two interest-free payments over a month.
- Pay in 30: Pay in full interest-free within 30 days of the purchase.
These options join Affirm’s existing payment solutions such as Pay in 4 and monthly installments. Affirm has seen a significant increase in cart conversion within its app since introducing Pay in 2 and Pay in 30. The company plans to test and expand these options more broadly to its integrated merchant partners in the coming months.
Consumer-Centric Benefits
The rollout of these new options underscores Affirm’s commitment to meeting consumer needs and preferences. By offering interest-free payments for smaller purchases, Affirm is making it easier for consumers to manage their budgets and make purchases without financial strain.
