Founded in 2012, Affirm’s mission is to build honest financial products that improve lives. The company offers approved consumers an alternative to credit cards and other pay-over-time options, providing the ability to split the total cost of purchases into budget-friendly payments. While nearly one-quarter of buy now, pay later users in the UK were charged late fees in 2023, Affirm does not have any late fees or hidden charges, which supports the responsible extension of credit. Affirm 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. Affirm has been publicly traded on NASDAQ since 2021 and has processed more than $75 billion over the last five years.
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, meaning the amount of any interest does not ever increase or compound. Consumers will always know what they owe upfront. Affirm UK Limited (“Affirm”) is authorised and regulated by the Financial Conduct Authority.
Affirm is launching in the UK with Alternative Airlines, a leading flight booking site, and Fexco, a leading 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, commented: “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.”
Affirm currently has more than 30 employees in the UK, and plans to hire additional UK-based staff this year. Similar to their international colleagues, UK employees will have the opportunity to work remotely and meet in-person regularly. Affirm’s UK business is led by Ruth Spratt, VP and Country Manager. With over 25 years of leadership experience across the payments, media, and travel industries, she most recently served as UK country manager and board director for payments provider, Zip. Ruth and her UK-based team will drive Affirm’s growth in the market through the expansion of merchant and channel partnerships while maintaining full regulatory compliance.
Ruth Spratt, UK Country Manager of Affirm, added: “There are many brilliant businesses in the UK that make this country what it is – and we can’t wait to start working with them. The UK’s open economy, mature consumer market, and world-class talent makes it the perfect place for the next phase of Affirm’s journey. By entering the UK alongside a leading travel provider and platform partner, we’re able to expediently and deliberately begin growing Affirm’s UK network of consumers and merchants. We look forward to continuing to expand in the coming months.”
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