SAN FRANCISCO—Affirm Holdings is offering its buy now, pay later loans for the first time at self-checkout kiosks at more than 4,500 Walmart U.S. stores.
Buyers of at least $144 of products at Walmart, except groceries, can divide payments over three to 24 months through Affirm, a Walmart spokesperson told Reuters. Financing is limited to $4,000.
According to the report, after scanning purchases at Walmart's self-checkout kiosks, shoppers need to log onto Affirm's app or website and enter details, including the last four digits of their social security number. Approved shoppers will receive a barcode to finalize payment, the report added.
Reuters noted that Affirm has been available with employee assistance since 2019 at 4,000 Walmart Supercenters and on the retailer's U.S. website. Walmart ended its layaway program in 2020 during the pandemic. It offers buy now, pay later services in Canada through Affirm rival Klarna, Reuters said.
Increasing Delays in Payments
“Shoppers are increasingly delaying payments as U.S. credit card balances hit record highs and defaults rise,” Reuters reported. “Buy now, pay later services account for 5% of e-commerce payments globally and are forecast to rise to 6% by 2026, data from financial services tech firm FIS showed.”
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