Newegg Teams With Affirm on Flexible Payments

Digital electronics retailer Newegg Commerce, Inc. on Tuesday (Dec. 21) partnered with buy now, pay later (BNPL) platform Affirm to give customers who spend $100 or more the option to pay for their purchases on Newegg.com over time in equal payments with no fees.

“Consumers are demanding flexible payment options this holiday season and beyond,” said Silvija Martincevic, chief commercial officer of Affirm, in the joint announcement. “According to Affirm’s Consumer Spend Report, more than half of Americans are interested in using a pay-over-time solution for their holiday shopping this year.

“By teaming up with Newegg, we are delivering flexibility, control and transparency at checkout to give consumers the confidence to purchase their favorite electronics,” she said.

Affirm charges non-compounding interest, and customers never pay more than the amount they agree to up front, even if they miss a payment.

“We’re committed to giving our customers payment flexibility, whether that means offering the latest cryptocurrencies as a payment option or giving them the ability to finance larger purchases over time,” said Anthony Chow, CEO of Newegg, in the joint announcement.

“Our collaboration with Affirm delivers on that commitment, giving our customers what we believe is one of the best pay-over-time options currently available,” he said.

Related: Newegg Rolls Out Mobile Livestream Shopping Platform

In October, Newegg said it was testing an app-based livestreaming platform dubbed Newegg Live, which will let customers communicate with the hosts of livestream events and grab exclusive deals during the session.

The mobile-only Newegg Live will feature customer-focused livestreams in the company’s mobile app. Newegg previewed Newegg Live for more than 10,000 people on Sept. 1, featuring 20 products during the 90-minute session.

Newegg Live will offer weekly livestreams during the beta phase and plans to increase the stream’s frequency as the test continues.

In July, Newegg announced it will accept Litecoin on the BitPay platform, so international customers can pay for merchandise with Litecoin using the BitPay Wallet app. Newegg teamed with BitPay in 2014 to enable bitcoin payments in the U.S. and later in Canada.