The partnership is opportune because Affirm specializes in offering ways for people to pay for things other than using cash and regular credit. Through the partnership, the companies will allow fans to purchase event tickets, and then pay for them at intervals later on, according to a press release from Affirm.
The partnership will be fortuitous for those who want to attend the Super Bowl. A study by Affirm found that 76 percent of football fans surveyed had never been to the Super Bowl due to the cost.
The survey also found that 64 percent of respondents wanted a pay-over-time option for sporting events, and 59 percent avoided paying to attend events with their credit cards.
Those who want to use the service can use StubHub to pay for tickets, and they can select Affirm as an option when checking out. Then, they’ll be asked to provide information and can select to pay off their ticket over three, six or 12 months at varying interest rates, from 10 percent to 30 percent APR.
Monthly payments will be shown in real dollars instead of “hard-to-calculate percentages,” according to the press release. The option will be available on purchases from $99 to $17,500.
The mode of payment is indicative of the trend among young people who have become skeptical and wary of credit.
Instead, they prefer using debit cards. As such, the buy now, pay later model has taken off and people want the ability to have something instantly while also not going into debt over a purchase for fun.