It also promotes its Green Dot-powered Walmart Moneycard, Bluebird prepaid debit, and its Walmart Pay digital wallet, not to mention the yet-to-be defined “ fintech startup ” with Ribbit Capital.

Using Affirm for an in-store purchase at Walmart requires a cumbersome process of pre-qualifying for a specific amount on Affirm’s site and bringing a one-time use barcode to be scanned at the register at Walmart - the opposite of the typical low-friction experience of using BNPL online.įurther, as I’ve written about before, Walmart has other horses in the financial services race Walmart’s site makes heavy promotion of the Capital One Walmart credit card, which offers 5% cash back on Walmart purchases. In Q2 2021, just 11.41% of Walmart's US net sales came from ecommerce. The slow traction with Walmart may be driven by its share of sales coming from bricks and mortar vs. 28 mentions of “Peloton” across the earnings release, supplemental materials, and call. Īffirm also partners with Amazon rival Walmart, though the partnership appears to have had negligible impact on Affirm’s business across Q3 2021 earnings materials, “Walmart” is mentioned 3 times on Affirm’s earnings call vs. Peloton, which accounted for about a third of Affirm’s revenue at IPO, is cutting prices for its entry-level bike for the second time in a year amid slowing demand and increased competition. The partnership comes at an opportune time for Affirm. The release did not specify the terms of the financing (split pay, longer term installment loans, or both), nor did it suggest that the arrangement is exclusive. As always, when choosing Affirm, consumers will not be charged any late or hidden fees.” Approved customers are shown the total cost of their purchase upfront and will never pay more than what they agree to at checkout. “As a result of Amazon and Affirm's partnership, select Amazon customers now have the option to split the total cost of purchases of $50 or more into simple monthly payments by using Affirm. Īmazon is testing offering Affirm as a financing option in the US for orders over $50 according to the release : Recent developments in the industry include PayPal’s launch of a “split pay” product in 2020, Apple’s announcement it is developing a split pay and longer term loan offering with partner Goldman Sachs, and Square announcing its acquisition of Afterpay. Amazon is the latest company to strike a partnership in the still-red hot buy now, pay later space.

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