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Affirm (AFRM) Partners With INTERMIX Ahead of Holiday Season
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Affirm Holdings, Inc. (AFRM - Free Report) recently partnered with INTERMIX, a growing e-commerce channel to provide consumers payment options on different platforms including in-store, online and Designer Re/Mix hub. AFRM is expected to offer flexible and transparent payment options for INTERMIX shoppers buying designer clothes, bags, shoes and other products.
With the fading pandemic restrictions, people are going out more, socializing, returning to the office, traveling and participating in different events. As a result, businesses are witnessing rising sales figures. INTERMIX, an omnichannel women’s fashion retailer, is expected to ride the trend and the partnership with Affirm is likely to fuel growth.
By offering Affirm’s payment products at checkout, INTERMIX can reach new potential clients. This partnership is also likely to increase AFRM’s merchandise volume. The partnership with INTERMIX is the latest addition to the company’s rapidly growing network of 235,000 merchants and almost 14 million consumers.
The move comes at an opportune time as businesses are looking forward to the holiday season. Thanks to decreasing COVID restrictions, pent-up demand and lingering savings, consumer spending is expected to witness significant growth in the coming days. The potential growth is expected to follow a successful summer trend. Affirm’s 2022 summer consumer spending trends revealed that travel was in the second spot on the top spending list, while furniture and homewares was third, and apparel was in the fourth position.
The increase in spending reflects higher transaction volumes for payments companies. With increasing dependence on BNPL and similar services due to rising inflation, companies like Affirm are expected to benefit from higher transaction volumes in the coming quarters.
Price Performance
Over the past year, shares of Affirm have decreased 81.3% compared with the 49.3% fall of the industry it belongs to.
Headquartered in Henderson, NV, PaySign offers prepaid card products and processing services. The Zacks Consensus Estimate for PAYS’s 2022 earnings indicates 280% year-over-year growth.
Based in Oakland, CA, Marqeta provides card issuing and transaction processing services. The Zacks Consensus Estimate for MQ’s 2022 bottom line indicates 13.3% year-over-year growth.
Miami-based International Money Express works as a money remittance services company globally. The Zacks Consensus Estimate for IMXI’s 2022 bottom line indicates 18.4% year-over-year growth.
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Affirm (AFRM) Partners With INTERMIX Ahead of Holiday Season
Affirm Holdings, Inc. (AFRM - Free Report) recently partnered with INTERMIX, a growing e-commerce channel to provide consumers payment options on different platforms including in-store, online and Designer Re/Mix hub. AFRM is expected to offer flexible and transparent payment options for INTERMIX shoppers buying designer clothes, bags, shoes and other products.
With the fading pandemic restrictions, people are going out more, socializing, returning to the office, traveling and participating in different events. As a result, businesses are witnessing rising sales figures. INTERMIX, an omnichannel women’s fashion retailer, is expected to ride the trend and the partnership with Affirm is likely to fuel growth.
By offering Affirm’s payment products at checkout, INTERMIX can reach new potential clients. This partnership is also likely to increase AFRM’s merchandise volume. The partnership with INTERMIX is the latest addition to the company’s rapidly growing network of 235,000 merchants and almost 14 million consumers.
The move comes at an opportune time as businesses are looking forward to the holiday season. Thanks to decreasing COVID restrictions, pent-up demand and lingering savings, consumer spending is expected to witness significant growth in the coming days. The potential growth is expected to follow a successful summer trend. Affirm’s 2022 summer consumer spending trends revealed that travel was in the second spot on the top spending list, while furniture and homewares was third, and apparel was in the fourth position.
The increase in spending reflects higher transaction volumes for payments companies. With increasing dependence on BNPL and similar services due to rising inflation, companies like Affirm are expected to benefit from higher transaction volumes in the coming quarters.
Price Performance
Over the past year, shares of Affirm have decreased 81.3% compared with the 49.3% fall of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Affirm currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Business Services space are PaySign, Inc. (PAYS - Free Report) , Marqeta, Inc. (MQ - Free Report) and International Money Express, Inc. (IMXI - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Headquartered in Henderson, NV, PaySign offers prepaid card products and processing services. The Zacks Consensus Estimate for PAYS’s 2022 earnings indicates 280% year-over-year growth.
Based in Oakland, CA, Marqeta provides card issuing and transaction processing services. The Zacks Consensus Estimate for MQ’s 2022 bottom line indicates 13.3% year-over-year growth.
Miami-based International Money Express works as a money remittance services company globally. The Zacks Consensus Estimate for IMXI’s 2022 bottom line indicates 18.4% year-over-year growth.