Affirm is an e-commerce and digital payments platform that offers a consumer app, a point of sale payment solution, a buy-now-pay-later offering for consumers, and merchant commerce solutions. It supports a mutually reinforcing consumer and merchant ecosystem whereby consumers and merchants can discover and engage with each other through its marketplace.
Affirm’s BNPL point of sale solution offers consumers the opportunity to pay for transactions through fixed payments without incurring deferred interest, penalties or hidden fees. The platform facilitates 0 percent APR payment options and interest bearing loans that only charge simple interest. Through the Affirm app consumers can manage payments, open a high-yield savings account, and access a marketplace based on their retail preferences. Affirm merchants have access to customer acquisition, product promotion and selling avenues. In 2020, Affirm reportedly had over 6.5 million consumers and more than 6500 merchants on its platform.
Affirm was founded in 2012 by the co-founder of PayPal Max Levchin, Jeffrey Kaditz and Nathan Gettings. Its headquarters are located in San Francisco, California. It has offices in New York, Pittsburgh, Salt Lake City and Chicago.
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