The partnership, set to go into effect later this year, makes Affirm the first BNPL provider fully integrated into Fiserv’s Carat operating system.
The companies said the integration will let Fiserv’s merchant clients add Affirm’s Adaptive Checkout function, which offers biweekly and monthly payment options to allow customers to choose how they want to split costs.
Geoff Kott, Affirm’s chief revenue officer, said the goal of the partnership is to let more merchants offer Affirm’s service at checkout, and in doing so, reach new customers and boost sales.
Based in Wisconsin, Fiserv enables money movement for financial institutions, individuals and businesses around the world, and has begun making options like BNPL available to its clients in response to rising demand.
Affirm’s network of merchants includes major retailers like Amazon, Target and Walmart as well as brands such as American Airlines and Williams Sonoma.
See also: Fiserv, TCH Team on Expanded Real-Time Payments Access
The partnership comes two days after Fiserv and The Clearing House joined forces to strengthen and simplify real-time payments for both consumers and businesses.
That collaboration lets Fiserv’s financial institution (FI) clients access The Clearing House’s RTP network, getting support for payment services through Fiserv’s NOW Gateway.
The companies said FIs will be able to integrate with NOW Gateway to provide a range of various real-time payment services, such as Zelle peer-to-peer (P2P) payments, payouts for gig economy work or insurance claims, and real-time bill payments.
