DETROIT - StockX, the global resale marketplace for sought-after lifestyle products, has teamed up with Affirm (NASDAQ: AFRM), a payment network known for empowering consumers with no-fee payment plans. Affirm, currently valued at $16.6 billion, has shown impressive revenue growth of 46% in the past year, according to InvestingPro data. Eligible U.S. customers can now use Affirm’s biweekly and monthly payment options for purchases on StockX, enhancing access to brands like adidas and Gucci. While Affirm’s stock has shown significant volatility recently, with a beta of 3.64 and a 16% decline in the past week, InvestingPro analysis reveals 10+ additional exclusive insights about the company’s performance and outlook.
Jacob Fenton, Vice President of Customer Experience and Insights at StockX, emphasized the company’s commitment to improving customer experience by providing flexible payment solutions. Affirm’s SVP of Revenue, Pat Suh, highlighted the growing demand for flexible payment options in the apparel and accessories sectors, noting a 25% increase in these categories from October to December 2024.
The partnership allows customers to select a payment plan at checkout, undergo a quick eligibility check, and if approved, choose a plan that suits their budget. Affirm assures no late or hidden fees, promoting responsible shopping.
To mark the launch, StockX and Affirm are offering an exclusive promotion until Sunday, March 17, where eligible customers can benefit from a 0% APR Drop on three or six-month payment plans for purchases of $250 or more.
StockX, headquartered in Detroit, provides a dynamic platform for buying and selling high-demand consumer goods, connecting buyers and sellers worldwide. Affirm joins over 337,000 global merchant partners, including fashion giants like Canada Goose and Net-a-Porter.
This collaboration is based on a press release statement and aims to give consumers more control over their finances while shopping for high-demand items. According to InvestingPro data, Affirm maintains strong liquidity with a current ratio of 12.29, though analysts don’t expect profitability this year. For comprehensive analysis including Fair Value estimates and detailed financial health scores, investors can access the full Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Affirm Holdings has filed a new prospectus supplement with the SEC, which includes the legal opinion of Gibson, Dunn & Crutcher LLP regarding the issuance and sale of securities. This filing outlines the legal framework for upcoming securities transactions, a significant step in Affirm’s financial activities. Additionally, Affirm has partnered with Stitch Fix to offer flexible payment plans, allowing customers to spread purchase costs over time. This partnership follows a 20% year-over-year increase in fashion sales through Affirm, indicating a trend toward prudent payment methods.
Affirm has also expanded its partnership with Shopify, becoming the exclusive provider of Shop Pay Installments in the U.S. and Canada, with plans to enter the UK market. This move is part of a multi-year renewal and highlights Affirm’s commitment to international growth. Furthermore, FIS has announced a strategic partnership with Affirm to integrate pay-over-time solutions into its debit card offerings, enhancing financial management options for bank clients. These developments reflect Affirm’s ongoing efforts to expand its payment solutions and partnerships in the financial and retail sectors.
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