Saturday, June 15, 2024

Affirm Launches SuperApp and Browser Extension

Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced the launch of two significant additions to its product suite: the Affirm SuperApp and Chrome browser extension. Affirm’s new SuperApp delivers the best of Affirm’s shopping, payments, and financial services in one easy-to-use destination. The new Google Chrome browser extension allows consumers to use Affirm’s flexible and transparent payment solutions at virtually any retailer’s website, even if Affirm isn’t listed as being available at checkout.

“We know that consumers want a one-stop shop to manage their finances. Affirm saw this firsthand when we added Savings to our app, which has since attracted more than $300 million in total deposits while driving meaningful engagement,” said Max Levchin, Founder and Chief Executive Officer of Affirm. “By evolving the Affirm app into a super app, we have launched the ultimate destination for consumers to shop their favorite brands and smartly manage their finances, while also delivering a seamless, rewarding, and increasingly personalized experience.”

In the new and improved Affirm app, consumers can:

  • See their Affirm snapshotincluding how much they might be able to spend, how much cash back they have earned, how much they have saved, and their outstanding payments – on the completely reimagined home screen
  • Shop exclusive offers from their favorite merchants, which are tailored based on their shopping preferences in the app
  • Shop online or in-storeby creating a single use Affirm virtual card and entering that card number at online checkout as they would with a regular debit or credit card, or through their mobile wallet in-store
  • Earn cash back rewards by paying upfront at participating merchants, and the opportunity to increase spending limits with positive repayment behavior
  • Manage their Affirm payments and Affirm Savingswhether turning on AutoPay, making payments early, or checking how much they have earned in savings

During the beta period, Affirm saw increased consumer engagement and repeat use of the Affirm app. Consumers can update their Affirm App or download it from the App Store or Google Play store today.

Levchin continued, “We also know that consumers value convenience and increasing Affirm’s ubiquity through our browser extension delivers just that. Last year, more than half of U.S. consumers browsing the internet used Google Chrome. Now, each of those consumers can pay-over-time with Affirm – whether buying a new sweatshirt or redecorating their home – almost anywhere they shop online.”

To start using the Chrome extension today, consumers can:

  • Download it from the Chrome web store
  • Click the puzzle icon on their browser, then click the thumbtack to pin the Affirm browser extension
  • Login to their existing Affirm account with their phone number, or sign up by entering a few simple pieces of information, including name, email address and birth date
  • Shop their favorite stores online to see how much they’re prequalified to spend
  • Request a virtual card through the extension, select an Affirm payment plan, and complete their purchase as they’re used to

During the beta period, Affirm found that among existing Affirm users, those using the Affirm Chrome extension were over 30 percent more likely to pay for a purchase with Affirm.

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