Affirm to launch Affirm Card with access to Buy Now, Pay Later functionality
By Pavithra R
Affirm, providing significant disruptive innovation to the financial industry, has announced plans to launch Affirm Card, a debit card with direct access to pay-over-time functionality.
The new Card will enable consumers to pay upfront, from their bank account, or pay later by using a unique post-purchase feature. Customers will have the provision to instantly convert any eligible transaction into one that is pay-over-time without any late fees or hidden charges.
“We know consumers are looking for financial control and flexibility. In the last year, we’ve seen two key trends: huge growth of buy-now-pay-later transactions and consumer preference shift to debit cards over credit cards. The Affirm Card combines the two, allowing Affirm to meet consumers where they are and empowering them to pay on their own terms,” said Max Levchin, CEO and founder of Affirm.
The FinTech has also announced its plans for the Card to address both of these trends. The firm expects to make the Card available later this year and is inviting consumers interested in early access, to sign up for the Card waitlist.
“Millions of consumers have already enjoyed Affirm’s simple and transparent pay-over-time offerings at thousands of merchants. Soon, whether shopping for a laptop at Walmart or glasses at Warby Parker, consumers will be able to choose to buy now or pay later, using the Affirm Card at check out, online or in-store, with no hidden fees,” said Levchin.
Founded in 2012, San Francisco-based Affirm offers a more transparent, flexible alternative to credit cards. Its mission is to deliver honest financial products that improve lives. The company operates as a financial lender of instalment loans for consumers to use at the point of sale to finance a purchase.
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