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As the buy now, pay later payment option continues to permeate commerce, Affirm Inc. fine tunes its repayment options and Uplift hooks SeaWorld as a client.
San Francisco-based Affirm says its new Adaptive Checkout gives consumers the option to pay in biweekly or monthly installments. The service will dynamically present a personalized mix of biweekly and monthly payment options to consumers for each individual transaction.
Affirm provides a loan per transaction and can assess interest depending on creditworthiness. Many other BNPL providers automatically spread repayment over four payments every two weeks, with no interest.
Affirm says Adaptive Checkout can deliver personalized payment options based on the transaction size and real-time underwriting factors. Repayment options range from four interest-free payments every two weeks to monthly payments over three to 36 months.
“Providing an optimized set of payment options for consumers to choose from has resulted in our highest-converting checkout solution for merchants,” Geoff Kott, Affirm chief revenue officer, said in a statement. “Adaptive Checkout extends our ability to intelligently service a wide range of transactions…”
In related news, Sunnyvale, Calif.-based Uplift, a buy now, pay later provider specializing in travel, said it is providing BNPL options for hotel and ticket packages at SeaWorld facilities in Orlando, San Antonio, and San Diego. Uplift-eligible transactions for SeaWorld begin at $300. Generally, Uplift transactions range from $100 to $25,000 and repayment can span from six weeks to 24 months. Uplift says it works with more than 200 travel-related companies.
