Affirm Holdings Inc. is experiencing a surge in interest from retailers looking to subsidize consumer borrowing in the lead-up to the holiday season. As shoppers increasingly turn to buy now, pay later (BNPL) services to manage their spending, Affirm's CEO Max Levchin highlighted that many retailers are willing to absorb interest costs to offer zero-interest loans, making it more attractive for consumers. This trend is backed by a 16% increase in BNPL usage, which reached $67 billion during last year’s Cyber Monday, according to Adobe Analytics. Levchin expressed optimism about the growing demand for Affirm's services, noting that the company is outpacing competitors like Klarna. Additionally, Affirm's recent partnership with Apple Inc. to integrate its pay-over-time options into Apple Pay has further boosted its market presence. Levchin emphasized the importance of strategic partnerships in driving growth and enhancing consumer access to financing solutions.
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