Founded by Max Levchin, Affirm has established itself as a leader in the buy now, pay later (BNPL) space by emphasizing transparency and consumer trust. Unlike traditional lending models that often overwhelmed consumers with hidden fees and revolving debt, Affirm adopted a more cautious growth approach. During the FIS Emerald Conference, Levchin shared insights about the journey of building Affirm and underscored the permanence of BNPL in the financial sector, reflecting on the initial challenges of creating a new product in an undefined market.
Affirm was founded with a focus on transparency and structured payments, distinguishing it from traditional financial products laden with fine-print fees and revolving debt.
Levchin emphasized that the BNPL model is not just a trend but represents a significant shift in consumer credit, echoing a demand for clarity and trust.
At the FIS Emerald Conference, Levchin candidly discussed the challenges of developing Affirm, highlighting the importance of measured growth over aggressive lending practices.
The conference's focus on 'Momentum' included discussions on managing capital and innovations in payments, aligning closely with Affirm's principles of operational efficiency.
Collection
[
|
...
]