StubHub Letting Customers Go Into Debt to Buy Super Bowl Tickets
StubHub has partnered with San Francisco-based financial technology company Affirm
Thanks to a partnership with San Francisco-based financial technology company Affirm, StubHub is now letting customers go into debt in order to purchase tickets to Super Bowl LIV in Miami.
Starting this month, the partnership will allow U.S. customers looking for tickets from $99 to $17,500 to most sporting events and concerts listed on StubHub to pay for their tickets over the course of up to one year — with interest.
With tickets for February 2’s game between the Kansas City Chiefs and San Francisco 49ers selling on secondary markets like StubHub for an average of $7,100, a payment plan like the ones offered by Affirm put going to the big game in reach for more Americans. For example, a $7,100 ticket with a 20 percent interest rate on a six-month plan would cost its buyer about $1,253 a month, for a total added cost of about $420.
With annual interest rates ranging from 10 percent to 30 percent, Affirm’s payment plans are approved in seconds once customers provide five pieces of financial information.
Affirm, which will pay StubHub upfront for every transaction that goes on a payment plan and retain all the interest earnings, has worked out similar partners including Adidas, Casper and Peloton.
“Whether it’s dancing in the front row of your favorite band’s show or cheering on your team at the championship game, these experiences can create lifelong memories,” Silvija Martincevic, chief commercial officer at Affirm, said in a release. “We’re excited to partner with StubHub, the world’s most trusted ticket marketplace, to bring flexible ticket options to fans across the country.”
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