Affirm Stock Jumps 15% as It Expands Buy Now, Pay Later Relationship With Walmart

KEY TAKEAWAYS

  • Affirm Holdings shares gained 15% to their highest level since February 2022 as the payment network expanded its buy now, pay later (BNPL) relationship with Walmart.
  • The company’s BNPL option will now be offered to shoppers using Walmart’s self-checkout kiosks.
  • According to Affirm, research indicated that a majority of customers wanted the BNPL choice at checkout.

Shares of Affirm Holdings (AFRM) rose 15% on Tuesday after the payment network announced that it has expanded its buy now, pay later (BNPL) relationship with Walmart (WMT).

The company said that its BNPL feature would be available to customers at self-checkout kiosks at 4,500 Walmart stores in the U.S.1

Pat Suh, senior vice president of revenue at Affirm, said the company’s recent research showed that 54% of Americans wanted retailers to offer the BNPL option at checkout. She added that providing this service at Walmart “will help even more consumers increase their purchasing power during the holiday shopping season and beyond.”1

Affirm explained that, along with Walmart stores, its BNPL feature is available at walmart.com, the Walmart app, and at U.S. Walmart Vision and Auto Centers.1

Affirm Holdings shares gained 15% to close Tuesday at $50.46, their highest level since February 2022.

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