Buy now, pay later (BNPL) platform Affirm is partnering with the men’s and women’s clothing brand Theory to offer customers interest-free payments over time for sportswear and accessories, according to a press release on Thursday (Oct. 21).
People shopping on Theory.com can choose Affirm at checkout and divide any sale over $50 across four biweekly, interest-free payments, without any hidden charges or fees.
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Silvija Martincevic, Affirm’s chief commercial officer, said that Theory’s brand has an established following of fans that covet its fashion-forward sportswear. “Customers can now use Affirm to pay over time and revitalize their wardrobe without interest or hidden fees, giving them a flexible and transparent option,” she added.
Affirm partners with more than 29,000 retailers, aiming to offer transparency in its operations to earn the trust of merchants and consumers. Its mission is to empower people to spend and save responsibly.
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Merchants using Affirm reported in 2019 that they experienced an 85% increase in average order values when compared to other payment methods. Last year, almost 67% of purchases were made by repeat Affirm customers.
Launched in 2012 in Silicon Valley, Affirm has processed some $17 billion in purchases and recently partnered with Amazon, TicketNetwork, Shopify, Target and many other merchants. Affirm also recently launched a new product called Adaptive Checkout, which enables the merchants on its network to offer customers more options at checkout.
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