Affirm secures exclusive partnership with Sam's Club as sole BNPL provider
This article was created with the help of artificial intelligence.
Key Takeaways
- Affirm Holdings closed an exclusive partnership with Sam's Club on October 22, 2026, making Affirm the sole provider of Buy-Now-Pay-Later financing for the wholesale chain.
- The Affirm offering waives late fees and provides that interest is not compounded.
- The partnership with Sam's Club exists alongside the division within the Walmart group, where Klarna serves Walmart's OnePay product.
- The previous collaboration with Walmart accounted for approximately 2 percent of Affirm's adjusted operating income in the six months to December 2024.
- Among users of Buy-Now-Pay-Later services, Affirm reaches 50 percent, Afterpay 48 percent, Klarna 47 percent and PayPal Pay Later 41 percent.
Affirm Holdings closed an exclusive partnership with Sam's Club on October 22, 2026, making it the sole provider of Buy-Now-Pay-Later financing (BNPL) for the wholesale chain. The agreement spans multiple years and provides for a phased rollout: in the coming weeks, Affirm will first be available on the Sam's Club website, with deployment in stores planned for 2027. Financial details were not disclosed.
BNPL offer without late fees and charges
Wayne Pommen, Chief Revenue Officer of Affirm, explained the offering: "When people pay in instalments with Affirm, they know what they will owe and choose a plan that fits their life." The company waives late fees and does not compound interest, according to its statements.
Buy-Now-Pay-Later models allow customers to pay for purchases in interest-free instalments while merchants receive the full amount immediately. Several providers such as Klarna, Affirm and Afterpay compete in this segment for the favour of major retailers.
Parallel structures within the Walmart universe
The exclusive agreement with Sam's Club exists alongside another partnership within the Walmart group. The previous year, Walmart selected Klarna Group Plc as the preferred provider for instalment credit as part of the OnePay product. This division means Affirm is responsible for Sam's Club, while Klarna serves Walmart's OnePay offering.
For Affirm, the partnership with Sam's Club is of strategic importance. The previous collaboration with Walmart accounted for approximately 2 percent of Affirm's adjusted operating income in the six months to December 2024. The news that Klarna had been selected for OnePay had at the time weighed on Affirm's stock price.
Distribution battle in the BNPL market
Industry observers emphasise that BNPL is fundamentally a "distribution game" – whoever wins preferred placements at the checkouts of major retailers can capture growth. Exclusive access to Sam's Club gives Affirm an additional distribution channel ahead of the holiday season, with store presence from 2027.
The competitive situation in the US BNPL market is tight: among users of Buy-Now-Pay-Later services, Affirm reaches 50 percent, Afterpay 48 percent, Klarna 47 percent and PayPal Pay Later 41 percent. For context: Costco introduced Affirm financing for online purchases between $500 and $17,500 in May 2025. Walmart's OnePay Later, provided by Klarna, covers purchases between $25 and $6,000.
Challenges for Klarna
For Klarna, 2026 has been difficult so far. The company has downwardly revised its revenue guidance and is searching for a key executive. The Sam's Club decision in favour of Affirm intensifies pressure on the Swedish competitor in the US market.
Affirm stock ahead of November 5
November 5, 2026 marks no specific date for Affirm Holdings mentioned in the sources. The announcement of the Sam's Club partnership was made on October 22, 2026. How the stock reacted to the news cannot be determined from the information provided.