Shares of Affirm Holdings(AFRM) rose 15% on Tuesday after the company announced that it has expanded its buy now, pay later(BNPL) relationship with Walmart(WMT).
In a press release, Affirm announced it has expanded its services with Walmart to enable customers to select its pay-over-time options at self-checkout stands at more than 4500 Walmart stores. The payment network’s services were previously available at Walmart’s website and nationwide stores but not at the self-checkout stations, which made up 30% of all retail transactions in a year.
Pat Suh, senior vice president of revenue at Affirm said, “The company's recent research showed that 54% of Americans wanted retailers to offer the BNPL option at checkout.”
She added that providing this service at Walmart “will help even more consumers increase their purchasing power during the holiday shopping season and beyond.”
Shares of Affirm Holdings gained 15% on Tuesday at $50.46, their highest level since February 2022. Affirm stocks have already risen higher in recent weeks as data showed BNPL purchases were up 20% year over year at the weekend following Black Friday.
Source: Trading View
Key Takeaways
- Shares of Affirm Holdings rose 15% higher on Tuesday to their highest level since February 2022, as the company expanded its buy now, pay later(BNPL) relationship with Walmart.
- The payment-network company’s BNPL option will now be available at Walmart’s self-checkout kiosks.
- Affirm reported that the majority of consumers wanted the BNPL choice at checkouts.
