Affirm Holdings Inc. is a financial technology company based in San Francisco, California, USA. The company was founded in 2012 by Max Levchin, Nathan Gettings, Jeffrey Kaditz, and Alex Rampell. Max Levchin, one of the co-founders, is a co-founder of PayPal and played a significant role in its early development. Affirm's mission is to provide consumers with transparent and accessible financial products that offer flexibility and convenience.
Affirm offers a buy-now-pay-later (BNPL) service that allows consumers to make purchases and pay for them over time in installments, without the need for traditional credit cards. The company partners with various online and offline retailers to offer its BNPL service as a payment option at checkout. Customers can select Affirm as their payment method and choose to pay for their purchases in fixed, manageable installments with clear terms and no hidden fees.
The company's technology-based approach includes assessing a customer's creditworthiness in real-time, allowing quick and convenient approvals. Affirm aims to cater to a wide range of consumers, including those with limited or no credit history. By providing an alternative to credit cards and traditional loans, Affirm aims to empower consumers to make more informed financial decisions.
In addition to its BNPL service, Affirm has also introduced features like Affirm Virtual Card and Pay with Affirm for in-store purchases, further expanding its presence in the retail market. As the BNPL sector continues to gain popularity, Affirm remains at the forefront of the industry, competing with other fintech companies in the rapidly growing space of alternative payment solutions.