Buy Now, Pay Later Added to Walmart Self-Checkout

When Walmart introduced a layaway payment plan as an option, it became a game changer for shoppers. Although Walmart got rid of layaway in 2021, the retail giant replaced it with a buy now, pay later financing option with Affirm in 2019.

In an announcement by Affirm, the “buy now, pay later” loans will be offered at the self-checkouts of more than 4,500 U.S. stores. To qualify for this new payment plan, buyers must spend at least $144 on Walmart products in-store, excluding groceries.

According to Reuters, Walmart shoppers can use the service at self-checkouts by logging into Affirm’s app or website and entering the required details. These details include the last four digits of their Social Security number.

Pat Suh, Affirm’s SVP of Revenue, said in a statement, “Expanding our partnership with Walmart and bringing Affirm transparent monthly pay-over-time options to their self-checkout kiosks in the U.S. will help even more consumers increase their purchasing power during the holiday shopping season and beyond” (via AL).

Customers can also use the payment plan on Walmart.com, in the Walmart app, and at the Walmart Vision and Auto Centers. Walmart’s website shows that “Affirm-eligible” items include TVs, video games, mattresses, furniture, toys, appliances, tired, and baby essentials.

In a recent Affirm research, 54% of Americans want retailers to offer a by now, pay later option at checkout (via Progressive Grocer). About three out of four consumers would either delay or not purchase without Affirm services.

Walmart has become the American grocery store for many citizens. The retailer, which recently celebrated the largest single-day rollout of re-grand openings in the company’s history, offers a wide variety of services and consumer products at fair prices for the general public.

It should be no surprise that approximately 230 million customers visit Walmart’s 10,500 stores and several e-commerce websites. The global behemoth retailer started in 1962. Founder Sam Walton wanted to craft a customer-focused experience that offered low prices.

There are many ways that Walmart has maintained low prices all of these years. One option is using rollback pricing. The tactic allows the retailer to offer temporary discounts on select items over peak seasons.

Another strategy used by the retailer is its Price Matching Policy. The policy allows Walmart to compete against other retailer prices by matching their prices. It is a way that Walmart subtly flexes that it has the best prices.

Of course, Walmart maintains that it is the best retailer for shoppers looking for the best prices thanks to its competitive pricing tactics through multiple discounts. This strategy helps attract shoppers as they hunt for the lowest prices.

Walmart has always looked for the best and most innovative ways to give customers the best and most affordable shopping experience. With Affirm now being offered at self-checkout, customers have another option to improve their shopping experience.