Affirm gains; Walmart-backed fintech reportedly begins buy now, pay later

Weave Communications

23/04/2024 15:08

(Updates to market open, recasts)
    ** Affirm's  AFRM.O  shares reverse premarket losses and
last up 3.4% at $33.05 early Tues amid broader strength in
equities  .N 
    ** Walmart-backed  WMT.N  fintech startup One has begun
offering buy now, pay later (BNPL) for big-ticket items at some
of retailer's more than 4,600 U.S. stores, CNBC reports
    ** Move puts One in direct competition with AFRM, exclusive
provider of installment loans for WMT customers since 2019, per
CNBC's report
    ** Meanwhile, AFRM has started quietly offering BNPL loans
for elective medical procedures, in major push beyond its core
e-commerce market, the co told Reuters
    ** With move on the session, AFRM's shares down 33% YTD but
have more than tripled over the past 12 months

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))