Walmart has expanded its partnership with fintech company Affirm to offer a buy now, pay later (BNPL) option at self-checkout kiosks in more than 4,500 stores.
The BNPL option, which can also be used on Walmart's website and app as well as at its vision and auto centers, allows customers to pay monthly and over time, Affirm said in announcing the deal.
Walmart and Affirm first announced a partnership 2019 to add a BNPL option at Walmart Supercenters nationwide and at its website.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Many major brands have added BNPL loans at checkout in recent years, including Google Pay, which recently announced plans to add BNPL options via partnerships with both Affirm and Zip next year.
Pat Suh, senior vice president of revenue at Affirm, said in a statement that Affirm's recent research found that 54% of Americans are looking for retailers to offer BNPL options and that 76% of consumers "would either delay or not make a purchase without Affirm.”
How to use Affirm at self-checkout
If you choose to use Affirm at a self-checkout kiosk, bring up the Affirm app or Affirm’s Buy In-Store, Pay Later page on your phone and follow these steps:
- Enter the purchase amount. Eligible items cost from $144 to $4,000.
- Choose a pay-over-time term of three to 24 months.
- Checkout at the kiosk. If approved, you will be provided a single-use barcode to scan at the self-checkout kiosk.
BNPL loans in the spotlight
These loans have grown in popularity as they allow you to break up large purchases into smaller monthly payments, sometimes with zero interest, as Kiplinger previously reported. But there are also certain hazards of using BNPL, including overspending, studies show.
BNPL plans are also drawing scrutiny from consumer advocacy groups as well as state and federal governments including the Federal Reserve Bank of New York and the Consumer Financial Protection Bureau (CFPB).
The California Department of Financial Protection and Innovation advises consumers to make sure they are adequately informed before making their next big BNPL purchase, “so you don’t end up owing more than you bargained for.” One suggestion it offers is to make sure you don’t already have too many BNPL plans open before hitting “checkout” again.
Related Content
-
I'm want to give my 3 grandkids $5K each for Christmas.You're comfortably retired and want to give your grandkids a big Christmas check, but their parents are worried they might spend it all. We ask the pros for help.
-
If You're Not Doing Roth Conversions, You Need to Read ThisRoth conversions and other Roth strategies can be complex, but don't dismiss these tax planning tools outright. They could really work for you and your heirs.
-
Could Traditional Retirement Expectations Be Killing Us?A retirement psychologist makes the case: A fulfilling retirement begins with a blueprint for living, rather than simply the accumulation of a large nest egg.
-
Texas Sales Tax-Free Weekend 2025Tax Holiday Here's what you needed to know about the Texas sales tax holiday.
-
Florida Back-to-School Tax-Free Holiday 2025Sales Taxes The new tax-free holiday in Florida brought month-long savings on computers, clothing and other school supplies.
-
Visa, Mastercard's Swipe Fee Settlement Might Save You Money, For NowThe limited-time agreement directly benefits merchants, which can potentially pass savings on to consumers.
-
New List Out On Medicare Part B Drugs Eligible for RebatesSome Medicare beneficiaries may pay lower coinsurance rates from April 1 to June 30 for the drugs, HHS says.
-
Use An iPhone? You May Be Hearing From A Class-Action Lawsuit GroupA handful of suits against the iPhone maker seek to crack down on everything from app store purchases to messaging.
-
Capital One/Discover: What's In Their Wallet For You?Push back on Capital One's planned merger with Discover is growing with one group of consumer advocates calling for a public hearing.
-
Lawmakers: Nix Social Security Offsets For Seniors In Student Loan DefaultOffsetting Social Security benefits to pay for defaulted student loans can be devastating for some beneficiaries, lawmakers say.
-
Stellantis Recalls 285K Vehicles Over Airbag ProblemsDefective airbag inflators on certain Chrysler and Dodge vehicles could rupture and cause injury or death, NHTSA says.
