Affirm

Affirm operates a two‑sided commerce and lending platform centred on buy now, pay later financing. On the demand side, it offers consumers instalment loans at checkout, through a mobile app, and via debit and virtual cards that can be used online and in‑store. These loans range from short‑term interest‑free four‑payment plans for smaller purchases to longer‑term, interest‑bearing instalments for higher‑value transactions. Affirm handles credit assessment, loan origination, servicing and repayment.

On the supply side, Affirm integrates into merchant and payment service provider checkouts, as well as supporting non‑integrated merchants via virtual cards. Merchants receive full payment for purchases within hours, while Affirm assumes the risk and administration of consumer repayment in exchange for a processing fee. The company also works with bank and funding partners that issue certain cards or provide capital for loans, sharing economics from interest and interchange. Value is created for merchants through higher conversion and average order values and for consumers through more flexible payment options.

Affirm is a United States–based financial technology company that provides pay‑over‑time financing for consumer purchases, primarily via online and in‑store checkouts. Its products include short‑term interest‑free instalments, longer‑term loans, a debit card that can be used with instalment plans, and virtual cards that enable financing at merchants without direct integrations.

Affirm partners with e‑commerce merchants, marketplaces and payment service providers, paying them upfront (minus a processing fee) while taking on the consumer financing, underwriting and repayment collection. Revenue is generated from merchant processing fees, consumer interest on applicable loans, and card and funding‑partner economics. End‑consumers use its financing products, but commercial relationships and primary revenue streams are with merchants and financial partners.