Affirm, Stripe Team to Bring Adaptive Checkout to US

Buy now, pay later (BNPL) platform Affirm is partnering with financial infrastructure firm Stripe to drive growth, making Affirm’s Adaptive Checkout™ available to Stripe users in the U.S.

Affirm’s Adaptive Checkout tool uses the company’s smart decision engine to make a real-time underwriting decision and provide consumers with optimized bi-weekly and monthly installment options side by side.

“Stripe’s infrastructure, combined with Affirm’s customizable payment options and unrivaled flexibility and transparency, provides immense value for businesses looking to reach new customers, increase sales, and drive growth,” Affirm Chief Revenue Officer Geoff Kott said in a Tuesday (May 31) press release.

Offering Affirm at checkout gives businesses higher average order values and provides companies using Stripe with a “powerful growth engine,” Kott added.

A recent PYMNTS showed that 10.2% of millennials have used BNPL on a monthly basis.

See also: Study: 10% of Millennials Use BNPL Monthly

Businesses using Stripe can quickly integrate Affirm’s technology and eligible shoppers can split the cost of purchases ranging from $50 to $30,000, with a maximum credit limit of $17,500. Affirm commits to never charging late fees or hidden charges.

Affirm’s Adaptive Checkout tool offers a higher increase in cart conversion, approvals, and sales compared to those who offer monthly payments through Affirm alone, according to the release.

Read more: WooCommerce Expands Partnership With BNPL Firm Affirm

“We were able to integrate Affirm, test, and then launch in production within one day,” Ignacio Flores, technical lead engineer at Orchard Mile, said in the release. “More than 25% of purchases are being paid through buy now, pay later, and our conversion rate continues to improve as customers have more flexibility to purchase the products they want.”

Launched in 2012 and headquartered in Silicon Valley, Affirm offers installment options that show consumers exactly what they will pay upfront.

Stripe was founded in 2010 and is a financial infrastructure platform dual-headquartered in Silicon Valley and in Dublin, Ireland.

“Businesses need to move quickly to keep up with changing consumer preferences,” said Sophie Sakellariadis, payments product lead at Stripe. “For ten years, Affirm has been a powerful tool for businesses to reach new customers and drive growth. Stripe users can now get started accepting payments with Affirm in mere minutes.”