E-commerce retailers work hard to leverage the potential of their online platforms. That’s why Affirm developed a tool that expands e-commerce flexibility and supercharges the online shopping experience. With Affirm’s Multiple Financing Programs (MFP), online retailers can now tie financing options to individual products, product categories, and cart sizes.
MFP enables retail marketers to customize Affirm’s pay-over-time financing options for promotions on specific inventory or item categories. New financing options and associated terms (set by you, the retailer) appear when a customer adds the promoted items to their shopping cart—which can turn a “maybe” into a “yes.”
The aesthetics of the Affirm MFP modal can be customized to match the look and feel of your website, maintaining a consistent shopping experience that reinforces the relationship you’ve already established with customers.
Our 700+ retail partners saw very little risk in offering Affirm financing to shoppers because we pay merchants in full at the time of settlement. Meanwhile, the potential benefits are substantial. For some merchants, Affirm has lifted conversion rates by as much as 75% and doubled or even tripled AOVs.
David Kait, CEO of Reverb, an online marketplace where musicians buy and sell musical instruments and gear, spoke about his company’s partnership with Affirm: “We’re excited to explore the possibility of offering multiple pay-over-time financing options based on specific products and categories. At the end of the day, we want to make it as easy as possible for our customers to purchase the gear that they want and need, and the flexibility to provide tailored financing programs allows us to further empower our customers.”
Affirm lets shoppers pay for purchases over time with transparent, simple-interest loans, as opposed to traditional credit products that typically charge compounding interest and late fees, or come with promotional offers that later transition into higher rates.
Affirm CEO Max Levchin says, “By proactively informing consumers about fair, transparent, and honest financing options, retailers are helping drive more sales while establishing a trusted relationship with their shoppers.”
MFP is directly available to retailers who have integrated with Affirm using a Direct API or Magento; retailers using any other channel integration can implement MFP by adding custom code.
Explore Affirm’s Multiple Financing Programs—request a demo with your Merchant Success Manager, or email [email protected]