Affirm

Affirm operates a two-sided fintech platform. On one side, it integrates into merchant and payment partner checkout flows to help retailers offer instalment financing and adaptive payment options. On the other, it underwrites and services consumer and business-buyer financing products delivered through checkout, app, card, and virtual card experiences. Value is created by increasing merchant conversion and average order value while monetising the financing and transaction flow generated through the platform.

Affirm is a US-listed fintech company that provides buy now, pay later and instalment lending products for merchants and consumers. Its core business is embedding financing at checkout through merchant integrations, payment partners, apps, cards, and virtual card products, while also offering merchant-facing checkout optimisation tools such as Adaptive Checkout. The company serves enterprise retailers, e-commerce merchants, payment platforms, small-business commerce flows, and consumers using its app and card products.

Affirm generates revenue through a hybrid model combining merchant discount fees, consumer interest income on eligible loans, interchange, servicing income, and gain-on-sale economics from loan transfers or securitisations. Its value proposition is built around transparent financing with no late fees for consumers and conversion and basket-size uplift for merchants.