Bloomberg Audio Studios podcasts radio news. So out on the Bloomberg today again, our Paige Smith all over this space.
She's on fire. She really is. She reports Affirm Holdings teaming up with Walmart Sam's as the retailer's exclusive buy now pay later partner. And this is happening just weeks before the key holiday shopping season kicks off. Affirm will serve as its exclusive BNPL provider in a multi-year agreement, starting in that role on Sam's Club's website in the coming weeks and then rolling out to stores in 2027. That's according to a statement put out. The terms of the deal, though, not disclosed. We are delighted to have back with us Max Levchin. He is the founder, chairman, and CEO of Affirm Holdings. He joins us from Las Vegas on this Thursday. Hey, great to have you back with us, Max. Congratulations. Interesting. We're kind of reading between the lines here. What does this deal say about the competitive landscape and your rivals?
I cannot speak to my rivals. I can only speak to the fact that we are truly delighted to be back in Bentonville with this amazing partnership. It's wonderful. We're excited, just in time for the holiday season.
Okay. I'm going to... You can think about your rivals and you can think about the competitive landscape. I know you're excited about this. Without mentioning your rivals, talk to us about what this means for the competition in the space right now. Consumers have a lot of ways to pay for things, including credit cards, Max, and including other buy now pay later firms. What's your view there?
Well, I think the maybe unstated question here is what's going on in overall consumer spending. And I think the headlines don't appear to be particularly warm and fuzzy, but reality is we are seeing great demand for our product. You know, this partnership, partnerships we have announced, partnerships we have coming up, they're all a consequence of Affirm being, in my biased opinion, the best way to handle your holiday shopping, beyond, etc. We don't charge late fees. We don't compound interest. Retailers, small and huge, like Sam's, choose us because we are the best way to pay for things when it matters to you. And so I think, you know, what I can offer today is that it pays to use a product that has your best interest in mind as a consumer. And I think retailers, big and small, are realizing that everywhere.
No, Max, I think that is, yes, part of the economic story that's going on, right? And consumers increasingly feeling squeezed, and so how do they make purchases? I do believe, as you say, that that's one story, but I also do think about, is it also somewhat saying to the optionality and options you guys have in terms of growing your business and where you can, you know, have your programs used at this point? Like, is it getting more limited because there's so many choices out there?
You know, we are not seeing any slowing in the demand for our product, neither among retailers nor among consumers. And I would argue that it's good for the consumers, for sure, and for retailers to have ample competition among providers like Affirm. We are the leader in the US, we are the largest, most successful one in North America. I think that, you know, our numbers speak for themselves, frankly.
I do think that the fact that there's competition just highlights the fact that we are the strongest provider. You know, folks everywhere, not just at Sam's, have meaningful opportunity to decide what is the best choice of BNPL providers at their point of sale, and you know, every time they pick us, I take it as a vote of confidence that we've built the mousetrap that works for a lot of folks.
Well, this deal too, you're going to get the benefits of holiday shopping, right, via the website at Sam's Club, but you'll miss out kind of on that in-person shopping until 2027. Why is that? Why is that timing gap a part of this deal? Why not all in on everything?
