Worldpay and Affirm Team to Let Shoppers Buy Now, Pay Later

Worldpay has launched a partnership with buy now, pay later (BNPL) provider Affirm.

The multi-year collaboration, announced Wednesday (May 31) makes Affirm’s Adaptive Checkout offering available to eligible Worldpay merchants, letting them offer consumers bi-weekly and monthly payment options.

“It’s becoming increasingly important for merchants to provide pay-over-time payment solutions with consumer demand continuing to grow,” Jim Johnson, head of merchant solutions at Worldpay parent company FIS, said in a news release.

“By integrating Affirm’s products at checkout our merchants will be best placed to capture new sales opportunities and revenue streams, helping them continue to grow into the future.”

According to the release, customers who opt to use Affirm as a payment option go through a quick soft credit check — which doesn’t affect their credit score — during checkout. Once approved, eligible customers can split their purchases into bi-weekly or monthly payments. The release notes that Affirm does not charge late fees.

“Consumers are demanding more flexible and transparent options that enable them to pay over time without any junk fees or hidden charges,” said Becca Stone, vice president of strategic partnerships at Affirm. “By partnering with Worldpay, we are excited to expand the reach of our honest financial products.”

The partnership comes as consumers continue to embrace BNPL, as seen in a recent earnings report. As PYMNTS wrote earlier this month, those reports show volumes — either gross sales volumes or merchant sales volumes — rising, “markedly so.”

Affirm was among the companies reporting growth, at 18%, though — as noted here — its results also offered some insights into where consumers were and weren’t using BNPL.

“Travel remains a key area of strength, where that category saw volume growth of 62% as consumers leverage BNPL to buy experiences instead of electronics or sporting goods,” PYMNTS wrote.

Company officials also said demand for discretionary goods has been “tepid,” with spending on consumer electronics falling 8% year over year, home/lifestyle dipping 10% year over year, and the sporting goods and outdoors category plunging 48% year over year.