Affirm

Affirm: Installment Loans & Payment Solutions

Financial services company offering installment loans and payment solutions for online shopping, allowing consumers to split purchases into monthly payments

What is Affirm?

Affirm is a financial services company founded in 2012 that offers installment loans and payment solutions to consumers at online stores. Its solutions allow shoppers to split purchases into monthly payments rather than paying the full amount upfront. This allows consumers to buy now and pay later interest-free.

When checking out at an Affirm participating online store, customers can choose Affirm as their payment option. They will then go through a soft credit check and be presented multiple monthly payment plan options to choose from, allowing them to select a plan that fits their budget. Payments are processed conveniently through automatic bank account withdrawals.

Affirm partners directly with merchants to provide installment loans on qualifying online purchases. Over 12,000 merchants currently offer Affirm, including well-known brands like Peloton, Walmart, and Pottery Barn. Affirm does not charge any late or hidden fees, making it a budget-friendly financing option for many shoppers.

As an alternative to credit cards, Affirm gives consumers more flexibility and transparency around managing large online purchases. Its solutions can help shoppers afford items that may otherwise be outside of their spending limit while allowing them to build their credit. With its growing merchant network and competitive rates, Affirm aims to be a one-stop financing solution for ecommerce purchases.

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