Affirm Launches Flexible Pay-over-time Options in UK

In its major international expansion, Affirm, the US fintech company and the payment network that empowers consumers and helps merchants drive growth, has launched its flexible and transparent pay-over-time options in the UK.

The ‘buy now pay later’ firm’s expansion to the UK adds to its presence in the US and Canada. This will enable Affirm, the NASDAQ-listed firm which has processed more than $75 billion over the last five years, 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 is authorised and regulated by the UK Financial Conduct Authority (FCA) and 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.

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.

Founded in 2012, Affirm 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.

Empowering Consumers

Affirm’s Founder and CEO Max Levchin said that his company was founded on the premise of putting people first and empowering consumers to take greater control over their finances. Building on its leadership in the US and Canada, where Affirm partners with top retailers and commerce platforms, they see a significant opportunity to extend the company’s mission of building honest financial products to the UK.

The UK’s Minister for Investment Poppy Gustafsson said that Affirm’s substantial investment will not only help create tech-savvy jobs but underscores their confidence in the UK economy.

“This government is laser-focused on supporting business growth and expansion. The UK market offers a range of exciting opportunities, helping companies diversify their offerings and revenue streams, and making the UK one of the most innovative economies in the world,” he added.

His Majesty’s Trade Commissioner for North America Niall Mackenzie said that Affirm’s convenient and transparent credit offering – trusted by millions of consumers in the US and Canada – will offer UK consumers more payment choice and flexibility and help retailers better serve their customers.

Ruth Spratt, UK Country Manager of Affirm, said that there were many brilliant businesses in the UK that make this country what it is – and they were ready to work 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 are 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,” she added.