Affirm Partners with Wayfair to Offer Financing Options
Wayfair announced a new partnership with Affirm which gives shoppers another financing option. This new program is in addition to Wayfair’s existing private label credit card that is offered through Comenity Bank.
“We are committed to offering our customers the best retail experience in home and that includes flexible financing options that meet our shoppers’ individual needs and budgets,” said Steve Oblak, general manager at Wayfair. “In partnership with Affirm, we are able to extend another option to our customers and make it easier than ever before to shop for home furnishings on any budget.”
To pay with Affirm, Wayfair customers can choose Affirm at the checkout. From the payment terminal, they can view their monthly payments before they complete the purchase. Consumers can opt for a 3, 6 or 12-month plan, and APR ranges from 10% to 30%.
“Affirm’s goal is to offer honest, responsible, transparent services that help the people we serve,” said Max Levchin, CEO at Affirm. “We are delighted to provide our services to Wayfair’s rapidly growing customer base and help people make their visions for home a reality. With Affirm, Wayfair is making financing more accessible to shoppers. There are no hidden fees or costs and Wayfair shoppers using Affirm know their total cost up front.”
Last week, Affirm announced it received $100 million from Morgan Stanley, which will enable the company to offer additional financing offers to consumers. Affirm caters primarily to those without a comprehensive credit history.