Affirm is updating the BNPL app ahead of the holiday shopping season

Ahead of the holiday shopping season, payment network Confirm updates its app.

The company, known for its Buy Now, Pay Later (BNPL) offering, is now offering users easier access to personalized payment terms and interest-free offers through its app, among other things, according to a statement on Wednesday (October 30). emerges. Press release.

The changes come ahead of a holiday season that is expected to be marked by changes Consumer purchasing Habits.

“Our app update prioritizes what our consumers want most: to quickly discover their favorite Affirm loan offers, seamlessly manage their payments and see their purchasing potential in real-time,” says Affirm Senior Vice President of Product Vishal Kapoor said in the press release.

Affirm research found that half of consumers consider 0% APR financing options to be as valuable, if not more, than traditional discounts, while more than half use installment options to make purchases more affordable, the release said.

“Since testing and receiving Feedback from consumers Because of the new experience, we have seen more users engage with the app and use it for purchases,” Kapoor said in the press release. “This highlights the value of personalization and a transparent approach that doesn’t penalize consumers for being late or hit them with unexpected fees.”

The updated app Also allows users to get live updates on how much they can spend on Affirm and search for loan offers with a new search feature.

The news from Affirm comes weeks before a Shopping season Record sales of more than $75 billion are expected between Black Friday and Cyber ​​Monday. A forecast from Bain & Company reported 5% year-on-year growth in the period, beating the consensus holiday season growth estimate of 3%.

In the meantime, BNPL According to a study by PYMNTS Intelligence, it is gaining traction as a preferred payment method, with 16% of American consumers preferring it over traditional payment options. The trend is particularly pronounced among millennials: 39% said they had used BNPL in the past year.

“The rise in popularity is highlighted by a 28% year-on-year increase in gross merchandise volume BNPL purchases through a single service, indicating its effectiveness in driving sales,” PYMNTS wrote last month.