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.
