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Affirm Holdings, Inc. (NASDAQ:AFRM) stock climbed higher Thursday after announcing a major expansion of its partnership network with global payments firm Worldpay.
On October 22, Citigroup analyst Bryan Keane began coverage on Affirm with a Buy rating and set a $100 price forecast.
The new collaboration integrates Affirm’s buy now, pay later (BNPL) services directly into Worldpay’s embedded payments suite for software platforms.
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Worldpay for Platforms supports over 1,000 software-as-a-service (SaaS) providers and processed more than $400 billion in transactions during the past year.
Through this integration, SaaS platforms can now offer Affirm at checkout, enabling merchants to give shoppers transparent, flexible payment options.
The feature targets consumers seeking predictable, interest-free or low-interest payment schedules across purchases ranging from $35 to $30,000.
“Together with Worldpay, we’re making it easier than ever for businesses to offer flexible, transparent payment options at checkout,” said Wayne Pommen, Chief Revenue Officer at Affirm.
He added that the collaboration expands Affirm’s presence across platforms, merchants, and consumers while simplifying the shopping process.
“Our focus is on giving software platforms and their merchants the very best tools to grow,” said Matt Downs, President of Worldpay for Platforms. “Affirm’s proven ability to deliver results for businesses and great experiences for consumers makes them an ideal BNPL partner for Worldpay for Platforms.”
Affirm’s technology allows approved buyers to split payments into biweekly or monthly plans with no late fees.
By adding this flexibility, merchants can lift conversion rates, expand average order value, and attract new customers.
According to Benzinga Pro, AFRM stock has gained over 81% in the past year. Investors can gain exposure to the stock via Amplify Digital Payments ETF (NYSE:IPAY).
Price Action: AFRM shares were trading higher by 6.69% to $76.74 at last check Thursday.
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