Walmart Partners with Affirm on Point of Sale Loans

The largest retailer in the U.S. has partnered with fintech Affirm to offer customers point of sale loans at 4,000 stores and on the Walmart website; “Affirm is a great financing option for those customers who may prefer a fixed-term loan versus an open-ended revolving credit line to pay for larger baskets,” Walmart spokeswoman Marilee McInnis said in an email to American Banker; shoppers can finance $150 to $2,000 for 3, 6 and 12 month terms; the companies have been working on the deal for over a year as Affirm needed to come up with a solution to allow customers to apply a loan from their phone for certain items. Source.