What's Going On With Fintech Company Affirm Holdings Stock On Wednesday?

PayPal Holdings, Inc PYPL co-founder Max Levchin founded fintech company Affirm Holdings, Inc AFRM collaborated with Brittain Resorts & Hotels to offer flexible payment options for hotel guests.

Now, guests at over 15 hotels and resorts can book and pay over time using Affirm when making purchases over $150.

The guests can split the sum into monthly payments for up to 18 months, with transparent pricing and no hidden or late fees.

For example, a $1,000 purchase can be broken down into $64.76 per month at a 20% APR.

Pat Suh, Affirm’s SVP of Revenue, reported a 35% growth in travel and ticketing transactions through Affirm in the last quarter, emphasizing the demand for such flexible payment solutions.

Affirm’s network includes significant retailers like Amazon.Com Inc AMZN, Casper, and American Airlines Group, Inc AAL.

Affirm stock already received a boost following an announcement that its payment products will soon be available to Apple Inc AAPL Apple Pay users in the U.S.

Users can apply Affirm’s pay-over-time option when checking out online or in-app with Apple Pay on iPhones and iPads.

Analysts flagged significant GMV generated by the Affirm Card, which now boasts over a million active cardholders and is expanding into traditionally non-addressed categories like restaurants and groceries after the company’s third-quarter print.

Affirm Holdings stock gained over 106% in the last 12 months. Investors can gain exposure to the stock via Vanguard Small-Cap ETF VB and Vanguard Total Stock Market ETF VTI.

Price Action: AFRM shares are trading higher by 6.04% to $35.84 at last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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