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Target (TGT) partners with To affirm (AFRM) and Sezzle for the holiday season, becoming the latest retailer to jump on the buy now-pay-later trend popular with younger shoppers. Affirm stock rose on Wednesday.
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Target told USA Today on Wednesday that customers can use installment payment plan providers to take advantage of specials and vacation deals.
“Through our partnerships with Sezzle and Affirm, we provide customers with additional flexible payment options that further meet their needs, regardless of how they choose to shop,” said Gemma Kubat, President of Services Financial and Retail Services from Target.
Like the layaway programs popular in Christmas past, immediate buy and pay after pay providers allow customers to spread out interest-free payments, saving them from making larger purchases. on high interest credit cards. The service is especially popular with Gen Z and Millennial buyers who don’t have a credit card.
Affirm is already working with Walmart (WMT) and recently entered into an agreement with Amazon (AMZN). Square (SQ) announced the purchase of Afterpay for $ 29 billion in early August.
Affirm stock offers
Shares jumped 8.6% to 121 in the stock market today. Affirm stock bounces off its 21 day line, bullish action that would signal an aggressive buy in a cheaper market. But the market is currently correcting. Affirm stock was added to SwingTrader on Wednesday.
AFRM stocks form a very deep grip cup base going back to early February, after a first breakout in base IPO fizzled out. Investors could see a buy point at 133.27. The stock has formed several handfuls over the past few months.
Affirm stock jumped 15% on August 2, in reaction to the Square-Afterpay deal. It climbed 47% on August 30 as a result of the partnership with Amazon, then rose 34% on September 10 as a result of quarterly results.
The target stock fell 0.5% to 226.50. The stock has returned to its 200-day line in recent weeks after a strong advance.
Amazon and WMT shares edged up. The square stock has increased modestly. All three are below their 200-day moving averages.
Follow Gillian Rich on Twitter to invest news and more.
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