Affirm Teams up with Google Pay to Bring More Choice and Flexible Payment Options to Shoppers
SAN FRANCISCO – December 13, 2023 – Affirm, the payment network that empowers consumers and helps merchants drive growth, today announced their flexible and transparent payment options will be offered to consumers and merchants that use Google Pay for online checkout in the U.S.
Beginning in Q1 of calendar year 2024, Affirm will be available as a payment option for Android users on select merchant apps and websites that offer Google Pay at checkout.
"People are shopping on Google more than a billion times per day, and consumers are increasingly looking for more choice and flexibility when it comes to payment options,” said Drew Olson, Senior Director, Google Pay. "By teaming up with pay over time providers like Affirm, we are able to give Google Pay users more payment options when checking out, while providing merchants with another tool to drive their growth.”
Offering Affirm at checkout can drive overall sales — merchants using Affirm have reported 60% higher average order values when compared to other payment methods. It can also increase customer loyalty, as approximately 90% of Affirm purchases are from repeat Affirm users.
"By integrating Affirm into Google Pay, we are making it easier for consumers to take advantage of Affirm’s flexible and transparent payment options and for merchants to drive growth," said Jamie Cunningham, Director of Strategic Partnerships at Affirm. "This is an exciting step forward in our distribution strategy, as roughly half of shoppers are using digital wallets more frequently than they did before the pandemic and mobile commerce is growing faster than overall e-commerce."
Google Pay joins Amazon Pay and Shop Pay as major digital wallets that are integrated with Affirm’s transparent and flexible payment options.
Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network — one based on trust, transparency and putting people first — we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | Twitter.
Payment options through Affirm are subject to eligibility and are provided by these lending partners: affirm.com/lenders. CA residents: Loans by Affirm Loan Services, LLC are made or arranged pursuant to a California Finance Lender license.
Cautionary Note About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including statements regarding Google Pay's plans to make Affirm’s payment solution available to Google Pay consumers and the timing thereof, and statements regarding the future success of Affirm’s relationship with Google Pay and Google Pay consumers. These forward-looking statements involve known and unknown risks, uncertainties and other important considerations that may cause Affirm's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks, uncertainties and other considerations include the factors set forth in the sections entitled “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Forward-Looking Statements” in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on August 25, 2023, subsequent Quarterly Reports on Form 10-Q and any other periodic reports that the Company may file with the Securities and Exchange Commission. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.