Financial company Affirm is bringing its monthly pay-over-time options to multinational retailer Walmart’s self-checkout kiosks in the US.

The partnership will see Affirm’s services implemented at more than 4,500 Walmart stores.

Eligible shoppers can pay for items such as electronics, apparel and toys in simple monthly payments.

Those spending a minimum of $144 at Walmart can divide payments over three to 24 months through Affirm, according to Reuters.

The service is available in stores nationwide, on walmart.com and on the Walmart app.

Affirm’s payment option will also be offered at Walmart’s vision and auto centres.

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By GlobalData

The financing is limited to $4,000 and excludes groceries.

Affirm revenue senior vice-president Pat Suh stated: “Recent Affirm research revealed that more than half of Americans (54%) are looking for retailers to offer a buy now, pay later option at checkout. Moreover, we’ve found that 76% of consumers would either delay or not make a purchase without Affirm.

“Expanding our partnership with Walmart and bringing Affirm’s transparent monthly pay-over-time options to their self-checkout kiosks in the US will help even more consumers increase their purchasing power during the holiday shopping season and beyond.”

The two companies have an existing partnership, which enables customers to buy goods online and in stores from Walmart by pre-applying for credit and then showing a barcode to a checkout sales associate.

Affirm never charges any late or hidden fees. Customers will see the total cost of their purchase as they make it and will pay an agreed amount upfront.

Shares of Affirm rose by 14.4% following the announcement of the partnership expansion.