Affirm rolls out its flexible Pay-over-Time options in the UK

By Gloria Methri

Affirm, the payment network that empowers consumers and helps merchants drive growth, has launched its flexible and transparent pay-over-time options in the UK.

Founded in 2012, Affirm offers approved consumers an alternative to credit cards and other pay-over-time options. It enables them to split the total cost of purchases into budget-friendly payments.

Affirm does not have any late fees or hidden charges, which supports responsible credit extension. It underwrites every individual transaction before making a real-time credit decision and only approves consumers following an assessment that evidences their ability to repay.

Affirm’s expansion to the UK adds to its presence in the US and Canada. This will enable Affirm to further build upon its growing network of 50 million consumers and over 300,000 active merchants worldwide, including brands such as Amazon, Shopify, Walmart, and many more.

In the UK, Affirm will initially offer its interest-free and interest-bearing monthly payment options. Any interest applied will be fixed and calculated solely on the original principal amount. Consumers will always know what they owe upfront.

Affirm is launching in the UK with Alternative Airlines, a flight booking site, and Fexco, a global FinTech and payments processor, with additional UK and international brands expected to follow. Eligible Alternative Airlines customers can now select Affirm at checkout, go through an eligibility check, and, if approved, select from Affirm’s monthly payment plans for their flight purchases. Additionally, Fexco’s international clients with a UK presence can easily integrate Affirm and offer it as a payment option to their customers at checkout.

Max Levchin, Founder and CEO of Affirm, said, “Affirm was founded on the premise of putting people first and empowering consumers to take greater control over their finances. Building on our leadership in the US and Canada, where we partner with top retailers and commerce platforms, we see a significant opportunity to extend our mission of building honest financial products to the UK. We know that UK consumers are savvy shoppers who appreciate upfront, no-nonsense products. We look forward to offering them responsible credit options that truly put consumers first and working collaboratively with our UK partners to demonstrate how honest finance is good business.”

With over 2,000 staff worldwide, Affirm currently has more than 30 employees in the UK and plans to hire additional UK-based staff this year. Like their international colleagues, UK employees will have the opportunity to work remotely and meet in person regularly.