Walmart provides credit options to customers partnering with Affirm 5/5 (2)

Walmart provides credit options to customers partnering with Affirm. Walmart buyers who want a credit option for large purchases made at the store or online will soon have other options. The retail giant partnered with Affirm, a financial services company that provides installment credit options at more than 2,000 traders including Wayfair and Expedia.

Walmart said online buyers will have a Confirm payment option for purchases made in the coming weeks when they check out at

Walmart also plans to make credit options available on certain purchases at more than 4,000 U.S. supercents. Retailers say the Affirm experience at the Walmart supercenter is designed to be transparent, seamless and integrated with a typical consumer shopping experience. Customers can check eligibility by following the link before they head to the store or when they shop. Decisions are made in real time, without affecting their credit score, the retailer notes in its release.

Consumers must enter the site or application confirm and choose the retailer and the amount of credit they are looking for. They were then asked to provide their banking username and password to allow Affirm to check the active account and verify income. Once approved, the buyer chooses a payment term of 3, 6, or 12 monthly installments and displays the exact amount of payment they have to pay each month, with interest shown in simple dollars rather than interest rates that are difficult to calculate.

There are no hidden or late fees, so users will never pay a dollar more than they approve, according to Walmart. Buyers in the store will receive a unique barcode that is scanned by the store employee at the register to complete the purchase. Walmart stores in Iowa, Puerto Rico and West Virginia are not eligible to participate.

walmart partnershipwith affirm

Walmart home office.

Focusing on Walmart payment method

“We are focused on providing payment methods that are transparent, easy and convenient to customers, and Affirmation offers in stores and online are one way to do it. Providing many ways to shop and finance certain items without hidden costs is an important way we give our promise to help customers save money and live better, “said Daniel Eckert, senior vice president of digital services & acceleration at Walmart.

See also:   Walmart Allow You to access PayPal Cash in Stores

The brands owned by Walmart, Allswell and Hayneedle have offered the option of installment payments with Affirm. Walmart said its customers would be able to choose the option of Affirming payments for purchases ranging from $150 to $2,000 once available. Consumers can buy items such as electronics, home and garden, automotive, furniture and sporting goods with the Affirm option. However, food, alcohol, tobacco, pharmaceuticals, personal care, firearms and money services do not qualify with the Confirmation option.

Affirm provides loans through its banking partners, Cross River Bank of New Jersey, which is a commercial bank leased by the state and FDIC members.

Max Levchin, founder and CEO at Affirm, said Walmart was interested in partnering with Affirm partly because his company offered direct offers to its customers. In 2017, Walmart announced it would end the deferred interest financing on its credit card, he said. Last summer, Walmart ended a long partnership with Synchrony Financial and signed a new agreement with Capital One Financial for the consumer credit cards it offers.

He said, Affirm has positioned itself as a transparent consumer lender, offering clear pricing conditions, and not charging late fees. The loans carry an annual percentage rate ranging from 0% to almost 30%, depending on the risks presented by certain borrowers, according to the company’s website.

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