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PayPal Holdings, Inc (NASDAQ:PYPL) co-founder Max Levchin founded fintech company Affirm Holdings, Inc (NASDAQ:AFRM) collaborated with Brittain Resorts & Hotels to offer flexible payment options for hotel guests.
Now, guests at over 15 hotels and resorts can book and pay over time using Affirm when making purchases over $150.
The guests can split the sum into monthly payments for up to 18 months, with transparent pricing and no hidden or late fees.
For example, a $1,000 purchase can be broken down into $64.76 per month at a 20% APR.
Pat Suh, Affirm’s SVP of Revenue, reported a 35% growth in travel and ticketing transactions through Affirm in the last quarter, emphasizing the demand for such flexible payment solutions.
Affirm’s network includes significant retailers like Amazon.Com Inc (NASDAQ:AMZN), Casper, and American Airlines Group, Inc (NASDAQ:AAL).
Affirm stock already received a boost following an announcement that its payment products will soon be available to Apple Inc (NASDAQ:AAPL) Apple Pay users in the U.S.
Users can apply Affirm’s pay-over-time option when checking out online or in-app with Apple Pay on iPhones and iPads.
Analysts flagged significant GMV generated by the Affirm Card, which now boasts over a million active cardholders and is expanding into traditionally non-addressed categories like restaurants and groceries after the company’s third-quarter print.
Affirm Holdings stock gained over 106% in the last 12 months. Investors can gain exposure to the stock via Vanguard Small-Cap ETF (NYSE:VB) and Vanguard Total Stock Market ETF (NYSE:VTI).
Price Action: AFRM shares are trading higher by 6.04% to $35.84 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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