Affirm: Buy Now, Get Paid Later?
Buy now, pay later -- and do it in small, affordable increments, with a smartphone app. What could be more American than that? Affirm (NASDAQ: AFRM) is a high-flying fintech player out to revolutionize the way consumers pay for online purchases with payment plans that are just this easy. With deals in place to serve several e-commerce giants, as well as a growing trend in favor of installment payments, Affirm looks well-positioned to soar.
The San Francisco-based company, founded in 2012, has established key partnerships with Walmart, Shopify, and most recently Amazon.com, providing installment plans for purchases of $50 or more. Think of it as a flexible digital credit card with no fees and transparent interest rates. Customers can shop through Affirm's handy smartphone app, find deals, and select a payment plan that works for them.
Though it's not the biggest player in the U.S. or abroad, Affirm offers advantages that its competitors do not. Product reviews from Investopedia call it the better choice, because it features more financing options, no late fees, and loans up to $17,500. Investopedia also notes Affirm's credit card option, which allows consumers to pay off their purchases in four installments without fees or interest.
Source Fool.com
