This is a paid partnership with Affirm
Over the last few years, it's become almost standard to have a solution for BNPL, or "Buy Now, Pay Later", on your website. Outside of increasing conversion for you as a merchant, it also adds convenience to customers who are on your website trying to buy what you sell.
When I was a part of launching JUDY, an emergency preparedness kit, in 2020, we used BNPL so that customers could get their emergency kit within a few days along with all the necessary supplies for the pandemic, wildfires, or hurricanes, and not have to worry about the upfront payment to support it. We used ShopPay Installments (read: Affirm, but natively built into Shopify as a payment option for all US customers), and it allowed families across the country to be prepared within a matter of 72 hours, and spread payments over weeks.
You may have also seen Affirm's logo pop up in more places. As a trusted leader of BNPL, Affirm is the BNPL provider of choice for multi-billion-dollar corporations like Target, Walmart and Amazon. You might wonder why Affirm was chosen to be the BNPL provider, and it comes down to more than just rates themselves.
1. The Best Customer Experience
Affirm's notable payment option is the bi-weekly payment option (what people call pay in 4), and it's always interest free. In fact, 43% of loan volume taken during the first quarter of Affirm's current fiscal year were all interest-free.
If a customer takes an Affirm loan that's paid over a longer period, the customer sees all of that information up front, before processing the payment. Affirm never charges late or hidden fees — they haven't made a penny on those!
2. Affirm is Very Compliant
Affirm's founder, Max Levchin, has been an advocate from the early days of the company's launch to be on the side of consumers. He spent several years on the CFPB (Consumer Financial Protection Bureau)'s advisory board to understand how to play by the rules.
Today, Affirm works directly with regulators and consumer advocacy groups to ensure their product helps consumers first. In my opinion, They are the most honest actor in the BNPL space, working to align themselves with consumers, regulators and consumer advocacy groups.
3. Easy to onboard
Affirm's onboarding process can be done in a matter of minutes. When we onboarded Affirm for JUDY, it was super quick, and painless, even with a custom Shopify theme. You can set the AOVs you want to support, and switch it on, all without being a developer yourself.
4. Conversion Optimization
One of the biggest reasons my performance marketing side of the brain loves BNPL, is it helps consumers make a quicker decision about purchasing something they want to buy. In addition, it lets them get what they want now, versus coming back over a few weeks. Tradesy, an eCommerce store, saw a 75% increase in their AOV after turning on Affirm.
So, All That to Say...
Truly, there's no downside to Affirm. The conversion rate goes up. AOV goes up. Affirm also has a shoppable marketplace with an Alexa traffic score of 4,342, which becomes another channel of customer acquisition for you, too.
Subject to eligibility. Payment options through Affirm are provided by these lending partners: affirm.com/lenders. This post is a part of a paid partnership with Affirm and Nik Sharma
