{"id":30622,"date":"2024-02-21T17:11:00","date_gmt":"2024-02-21T14:11:00","guid":{"rendered":"https:\/\/www.x-cart.com\/?p=30622"},"modified":"2024-12-25T15:44:44","modified_gmt":"2024-12-25T12:44:44","slug":"affirm-and-x-cart-expand-partnership","status":"publish","type":"post","link":"https:\/\/www.x-cart.com\/blog\/affirm-and-x-cart-expand-partnership.html","title":{"rendered":"You Can Now Offer Affirm Payment Plans to the U.S. and Canadian Online Shoppers"},"content":{"rendered":"\n

As an online business owner, you always strive to optimize the buyer journey and make it more convenient, and the checkout experience is the most critical part. The “must-haves” of a smooth checkout process include user-friendly UI and UX design<\/a>, various shipping options, and a wide range of payment methods.<\/p>\n\n\n\n

Diversifying your payment options with flexible payments, aka Buy Now Pay Later services<\/a> (BNPL), can be a good idea. Unlike traditional credit cards, the BNPL concept offers more customer-friendly, personalized payment plans, allowing buyers to get the purchased item right away but pay for it at their own pace. At the same time, online merchants get the total amount upfront, which helps to avoid headaches with delayed payments.<\/p>\n\n\n\n

At X-Cart, we’ve seen firsthand how big the demand for flexible payment options is among online businesses (and their customers!). Therefore, we keep fostering our partnership with Affirm<\/a>, a \u2018Buy now, pay later\u2019 service that offers flexible loans to help expand your customer base and increase average order value. <\/p>\n\n\n\n

We are excited to announce that Affirm has extended to Canada, enabling online merchants to offer flexible payment plans to their customers across North America.<\/strong><\/p>\n\n\n\n

Read on as we uncover the Affirm benefits for online sellers, cover its main features, and drill down into details on connecting the Affirm add-on to the X-Cart store.<\/p>\n\n\n

\n Why Affirm? <\/h2>\n\n\n\n

Pay-over-time services keep winning affection among online store owners and their customers due to their undisputable convenience for both sides. Flexible payment options offered by Affirm are no exception. According to Similarweb<\/a>, Affirm loans retain the # 3 spot among the most commonly used Buy Now Pay Later companies in 2022, such as Klarna, Afterpay, or Sezzle.<\/p>\n\n\n

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\n \"Affirm<\/picture>
\n Source: Similarweb<\/em><\/a> <\/figcaption>\n <\/figure>\n <\/div>\n \n\n\n

Affirm offers flexible loans and personalized payment plans, allowing shoppers to spread payments over various term lengths. Depending on the term length, loan amount, customer’s payment history, and eligibility, the Annual Percentage Rate (APR) can vary between 0% and 30%. <\/p>\n\n\n\n

Affirm’s mission for online businesses is to deliver honest financial products that improve lives. By building a new kind of payment network based on trust, transparency, and putting people first, they empower millions of consumers to spend and save responsibly and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we show consumers precisely what they will pay upfront, never increase that amount, and never charge any late or hidden fees.<\/p>\n\n\n

\n The Main Benefits of Affirm for Online Businesses <\/h2>\n\n\n\n

According to First Small Business<\/a>, making purchases that don\u2019t fit their budget is the top reason consumers use BNPL services. At the same time, businesses offering BNPL see a 2% increase in converted visits compared to companies that don’t provide customer financing options, which see an 11% drop in conversions.<\/p>\n\n\n\n

While customers feel safe and confident in controlling their budget, online merchants benefit from their loyalty. In terms of eCommerce, this translates to higher conversion rates, expanded customer base, and increased average order value.<\/p>\n\n\n\n

So, here’s a quick overview of the main benefits that your eCommerce business will enjoy with Affirm.<\/p>\n\n\n

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Main Affirm benefits for eCommerce businesses:<\/strong><\/p>\n\n\n\n