Shares of Affirm Holdings (AFRM) jumped 15% higher on news that the company’s buy now pay later option will be added to self-checkout kiosks at Walmart (WMT) stores.
In a news release, Affirm said that it will offer its buy now pay later services that allow consumers to pay off purchases in installments over an extended period at more than 4,500 Walmart locations.
Consumers had already been able to choose Affirm’s buy now pay later payment option when shopping on Walmart’s website.
Specifically, Walmart customers can purchase goods online by pre-applying for credit and then scanning a barcode at checkout. Now, customers can also scan the barcode at self-checkout kiosks.
Affirm also has buy now pay later partnerships in place with other major online retailers and e-commerce companies such as Amazon (AMZN) and Shopify (SHOP).
The stock of Affirm Holdings has increased 455% in 2023 to $50.46 U.S. per share following a sharp decline during the 2022 bear market.
Walmart’s stock has increased 8% over the past year to trade at $155.53 U.S. per share.
