Affirm is an American fintech company that offers consumers and merchants buy now, pay later financing services. It was established in 2012 and mainly operated in the United States and some selected markets in other countries. It collaborates with retailers in different categories like apparel, electronics, travel, fitness equipment, and home goods. The company has incorporated its services in online and in-store checkout with APIs, plug-ins, and point-of-sale tools.
Affirm’s installment financing is its main product and provides customers with the option to divide their purchases into regular payments with no hidden charges and full disclosure of costs in advance. Credit plans vary between zero-interest and fixed-interest plans, depending on the merchants’ agreements and personal credit ratings. The company does not charge late fees. When a customer chooses Affirm at checkout, it performs an instant credit check and, if approved, pays the merchant the full amount and receives payments in installments over an agreed period with the consumer.
AffirmGo is a merchant product that supports contactless retail transactions, and Affirmone integrates the e-commerce and in-store financing functionality. Merchant service fees and interest revenue on financed balances are the sources of revenue.
The Affirm model links financing flexibility for consumers with the growth of merchants’ sales through combined payment technology. It positions itself as a clear alternative to conventional revolving credit and shows the precise payment terms before shopping.
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