Why Affirm Holdings Stock Soared Today
Shares of Affirm Holdings (NASDAQ: AFRM) were up 15.9% as of 1:45 p.m. ET Tuesday after the buy now, pay later (BNPL) payment-platform company announced an expanded partnership with (NYSE: WMT).
In a press release this morning, Affirm announced it has expanded its services with Walmart to enable customers to select its pay-over-time options at self-checkout kiosks in more than 4,500 Walmart stores. Affirm's services were previously available on Walmart's website and at stores nationwide but not at the self-checkout stations, which comprised around 30% of all retail transactions last year.
Affirm elaborated that its research has shown more than half of Americans are looking for retailers to offer a BNPL option at checkout. And 76% of consumers would either delay or forego a purchase entirely without the option. Affirm also stressed that customers who opt for a buy-now-pay-later option at checkout are always shown the total cost of their purchase, including interest. And because Affirm doesn't charge late or hidden fees, they'll never pay more than they agree to upfront.
Source Fool.com
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