Affirm

Affirm is one of the preferred future payment methods for consumers in the US. It allows them to buy what they want immediately and pay later. It works with many suppliers. This solution offers reduced interest rates on consumer credit at the point of sale.

Its purpose and features

A former member of Paypal, Max Levchin is the founder and CEO of Affirm. Affirm enables consumers to buy what they want via a PC or smartphone even if they have no cash. They can pay over a period of up to one year. With lower interest rates on their point-of-sale consumer loans, repayment can be made in several monthly instalments. Affirm does not charge additional credit fees to consumers who use it to finance their purchases. Nor do they pay any application fees or deposits.

Affirm's features are easy to use and very user-friendly. That's why the number of users is growing so fast. Before a purchase from a Windows PC, Affirm qualifies eligible buyers for a loan via the seller's website. To encourage repeat purchases, they are asked to pay 10-30% of the value of their purchases. As this is an instalment loan, it is divided into interest.

When it comes to payment via a dedicated application, you're at ease with Affirm while still benefiting from a few percent interest. With a number of additional features, its system offers an exceptional lending service. With a view to further satisfying its customers, Affirm is continually improving its features. It could, for example, offer loan approvals directly on suppliers' sites before the customer makes payment.