Fashion Retailer Revolve to Add Affirm’s Pay-Over-Time Option

Fashion retailer Revolve Group will soon enable its customers in the U.S. to use Affirm to pay over time.

The retailer will add this payment method in the U.S. in the coming days, both online and in its mobile app, and plans to then expand it to its customers in Canada and the U.K., the companies said in a Wednesday (April 2) press release.

“Shopping should be effortless, and payment flexibility is a key part of our premium experience,” Revolve Group Co-founder and Co-CEO Mike Karanikolas said in the release. “Affirm stood out for its transparent approach, customized and flexible options, and proven ability to build trust with millions of loyal shoppers.”

Customers will be able to select Affirm at checkout, complete an eligibility check and, if approved, choose from biweekly or monthly payment plans, according to the release.

“Unlike most credit cards and other pay-over-time options, Affirm never charges late fees, hidden fees or compound interest,” Pat Suh, senior vice president of revenue at Affirm, said in the release. “As shoppers refresh their wardrobes for the warmer months, Affirm provides Revolve customers with the confidence to secure the styles they love with flexible payment options.”

More than 55 fashion merchants have integrated Affirm and begun offering it at checkout over the last six months, according to the release.

Buy now, pay later (BNPL) is one of the embedded finance features that are emerging as top priorities for payment facilitators, independent software vendors and marketplaces, according to the PYMNTS Intelligence and Fiserv collaboration, “How Embedded Finance Drives Retail Platform Innovation.”

The report found that BNPL and other embedded finance features have become a priority as firms strive to continuously enhance their payments acceptance offerings to meet customers’ expectation for smooth online buying experiences.

For consumers, the lure of paying over time lies with the predictability of the payment, as they see a point at which all has been paid off, Affirm founder and CEO Max Levchin told PYMNTS CEO Karen Webster in an interview posted Thursday (March 27).

“The appeal of pay later is not that it’s some cool way of borrowing money,” Levchin said. “It’s the sense of control around the schedule and the plan that you create.”