SensePass, a leading platform in retail payment orchestration, has announced a new partnership with Affirm to expand payment options for merchants. This collaboration allows merchants to offer Affirm’s flexible and transparent payment plans directly at the point of sale, enhancing the customer experience and potentially boosting sales.
Expanding Payment Options for a Wider Customer Base
SensePass empowers merchants to accept a diverse range of digital payments, including e-wallets, Buy Now, Pay Later (BNPL) services, cryptocurrency, and open banking solutions. The platform integrates seamlessly with over 100 digital wallets and BNPL providers, including Affirm, Venmo, and PayPal, and connects with more than 30 point-of-sale (POS) platforms like Oracle X Store and Shopify. Additionally, SensePass offers NFC tags that reduce payment terminal costs and streamline checkout processes.
The new partnership integrates Affirm’s payment solutions into the SensePass platform. Consumers can now select Affirm as a payment option at checkout and undergo a quick, real-time approval process. Approved consumers have access to customizable payment plans with APRs starting at 0% for qualifying purchases, ensuring transparency with no hidden or late fees.
Potential Benefits for Merchants
Moty Arcuschin, a representative from SensePass, highlighted the advantages for merchants. “The SensePass + Affirm solution allows merchants to effortlessly integrate Affirm into their in-store operations,” he explained. “This can lead to increased revenue and average order value (AOV) without requiring downloads for customers or extensive staff training. Additionally, the solution utilizes self-powered tags that eliminate the need for costly payment terminals while facilitating easy handling of shopping selections.”
Studies indicate that merchants using Affirm experience a 60% increase in average order value compared to other payment methods. Moreover, approximately 90% of Affirm purchases come from repeat customers, potentially signifying enhanced customer loyalty. Affirm’s extensive network, encompassing partnerships with over 279,000 leading merchants in the U.S. like Amazon, Walmart, and Target, presents a significant growth opportunity for merchants integrating Affirm through SensePass.
About the Leading Payment Providers
SensePass remains at the forefront of digital payment innovation by offering an agnostic payment hub that connects any platform to any wallet, processor, or hardware. This ensures a seamless and truly omnichannel payment experience for merchants, accommodating all forms of digital payments across various sales channels.
Affirm is committed to providing honest financial products that empower consumers. By building a transparent payment network, Affirm allows millions of consumers to manage their finances responsibly while providing businesses with tools to drive growth. Affirm’s straightforward payment plans with clear APRs and no hidden fees ensure informed purchasing decisions for consumers.
This partnership signifies a significant advancement in retail payment solutions. By offering flexible payment options, SensePass and Affirm empower merchants to drive sales and enhance customer loyalty. The collaboration is poised to revolutionize the in-store payment experience, making it more convenient and efficient for consumers to manage their purchases.
The information contained in this article is for informational purposes only and does not constitute financial advice. Please consult with a financial or legal professional before making any decisions.
