Affirm and Zenni Optical Merge in Fintech Spectacle

  • The fintech company Affirm has partnered with online eyewear retailer Zenni Optical, offering shoppers the ability to pay for items over time.
  • Approved Zenni customers can split the total cost of any purchase over $75 into monthly payments, with Affirm claiming no hidden or late fees will be charged.
  • Zenni joins over 266,000 other retail partners on Affirm’s platform, helping to drive sales, increase average order value and boost customer repurchase rates.

In a move that underscores consumer demand for more flexible payment options, fintech company Affirm (NASDAQ: AFRM) has teamed up with Zenni Optical, an online eyewear retailer. The partnership now allows eligible shoppers the convenience of paying over time for their favorite items from Zenni’s diverse range of eyewear.

Once a customer chooses eyewear from Zenni’s vast online collection and selects Affirm at checkout, they can split the total cost of any purchase over $75 into monthly payments. This new payment system offers full transparency as customers will know the exact cost of their purchase upfront and will not pay more than they initially agreed to. Affirm also ensures that they won’t charge customers any late or hidden fees.

David Ting, Global CTO and General Manager at Zenni Optical, shared the company’s excitement regarding the partnership, noting its alignment with their mission of achieving a seamless shopping experience for customers. According to Ting, the simplicity of purchasing on is further improved by the addition of Affirm as a new payment option. This also advances Zenni’s objective of making high-quality, affordable eyewear more accessible to consumers.

Supporting Ting’s statements is Pat Suh, Affirm’s SVP of Revenue, who said that consumers using Affirm during Black Friday spent nearly $260 per eyewear checkout, marking a year-over-year increase of over 30%. These statistics speak to the increasing preference and demand for flexible payment options among consumers. By joining forces with Zenni, Affirm hopes to empower more consumers to make responsible purchases while avoiding hidden fees or compounding interest.

With Zenni Optical in the mix, Affirm now boasts over 266,000 retail partners, which also include Casper, DICK’S Sporting Goods, Newegg, SeatGeek, Priceline, American Airlines, among others. With its mission of delivering honest financial products, Affirm uses their payment network to help businesses across sectors grow and thrive, while at the same time allowing consumers to spend and save responsibly.