BigCommerce merchants can now offer Affirm’s flexible and transparent bi-weekly and monthly payment options to their customers
BigCommerce , a leading Open SaaS ecommerce platform for fast-growing and established B2C and B2B brands, today announced an expanded, multi-year partnership with Affirm, the payment network that empowers consumers and helps merchants drive growth. With Affirm as BigCommerce’s preferred pay-over-time solution partner, BigCommerce merchants of all sizes will now be able to use Affirm’s Adaptive Checkout™ product and provide eligible customers with the flexibility and control to choose which payment schedule works best for them.
“Innovative, digital payment options have become increasingly essential for merchants to offer their customers at checkout. Additionally, consumers, especially younger generations, are demanding transparency from their chosen providers,” said Mark Rosales, vice president of payments at BigCommerce. “Affirm’s scale and reliability, combined with the unparalleled flexibility and transparency they offer consumers, make them an obvious choice and great pay-over-time solution for our merchant network.”
Accessible within the BigCommerce Control Panel, merchants can enable and display Affirm’s pay-over-time solution at checkout. When they do, eligible customers will see bi-weekly and monthly payment options side-by-side thanks to Affirm’s smart proprietary technology which makes real-time underwriting decisions and surfaces customized payment schedules. True to Affirm’s long-standing commitment to never charge late or hidden fees, consumers will never owe more than they agree to upfront.
Read More: ChurnZero Unveils Jim Vandehei, Gabby Wong And Adrian Brady-Cesana As Speakers At BIG RYG 2022
Key benefits of this extended partnership include:
- Offer smarter payment options. Merchants can now deliver custom payment options, offering bi-weekly and monthly payment options side by side for eligible customers, on purchases ranging from $50 to $17,500.
- Increase brand awareness and attract more customers. Merchants will have the opportunity to tap into Affirm’s shopper network of 12.7M+ while maximizing marketing efforts with promotions and messaging tools to attract new customers.
- Drive conversions and add higher order values. Merchants who offer Affirm at checkout have reported as much as 85% higher average order values, 26% increase in cart conversions and 20% repeat purchase rates when compared to other payment methods. Merchants can also create more purchasing opportunities for customers with merchandising features like prequalification and dynamic price messaging, helping drive conversion and average order value.
BigCommerce merchants who elect to offer Affirm to their customers do not have to worry about collecting future payments from customers who checkout with Affirm. They will receive the full purchase amount, less fees, upfront (within 1-3 business days of a purchase), and Affirm will handle payment collection.
“More than ever, consumers are looking for flexible ways to pay that deliver affordability, predictability and control. In fact, recent Affirm data shows that nearly two-thirds of consumers plan to use a buy now, pay-over-time solution for purchases this year,” said Scott Williams, vice president of strategic partnerships at Affirm. “Now, tens of thousands of merchants on BigCommerce’s platform can offer Affirm to their customers. Doing so will not only help them better serve their customers but will also help them increase sales in the process.”
Read More: SalesTechStar Interview With Jonnie Cartmill, Chief Sales Officer at Sendcloud