Why Affirm Stock Is Trading Higher On Thursday

Affirm Holdings, Inc AFRM has announced a partnership with RONA Inc, one of Canada’s foremost home improvement retailers, which operates around 425 corporate and affiliated stores.

The partnership allows eligible shoppers to utilize Affirm’s online services for their home improvement needs. The Buy Now, Pay Later (BNPL) stock gained after the announcement.

Also Read: Affirm Card Users’ Data Compromised in Evolve Bank Cybersecurity Breach: Report

Adam Powell, Chief Digital Officer of RONA Inc., highlighted the importance of adapting to evolving consumer shopping habits.

By selecting Affirm at checkout on rona.ca, approved RONA customers can split eligible purchases into biweekly or monthly payments for up to 12 months.

Wayne Pommen, Chief Revenue Officer at Affirm, emphasized the benefit for consumers tackling home projects. Using Affirm provides clarity and control over payments, helping alleviate hidden fee stress.

The partnership with RONA expands Affirm’s network, which includes 292,000 retailers.

In Canada, Affirm’s partners include major brands such as Amazon.Com Inc AMZN, Apple Inc AAPL, Samsung, Hudson’s Bay, Browns Shoes, and CheapOair.

Analysts flagged Affirm’s diversified and strengthened business model with a special mention of Affirm’s closed-loop payment network.

Price Action: AFRM shares were trading higher by 4.30% at $29.38 at the last check on Thursday.

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

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