Financial service provider Stripe is rolling out a new BNPL offering for US merchants to operate for customers.
Integrating Affirm’s adaptive checkout product, Stripe seeks to use the Adaptive Checkout to enable real-time underwriting decisions that offer consumers weekly and monthly payment options for a certain limit.
“Businesses who offer Affirm at checkout have reported as much as 85% higher average order values compared to other payment methods, and our new partnership delivers a powerful growth engine to the millions of businesses and platforms that use Stripe,” said Geoff Kott, Chief Revenue Officer at Affirm.
US merchants will now be able to add BNPL technology for their checkout experience by adopting Stripe’s Adaptive Checkout. Customers will have the option to split costs through a range of prices that goes from $50 to $30,000.
Orchard Mile is a firm that has become an ‘early believer’ in Stripe and Affirms BNPL offering, with the idea to increase revenue.
“We were able to integrate Affirm, test, and then launch in production within one day,” stated Ignacio Flores, Technical Lead Engineer at Orchard Mile.
“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.”
