Buy now, pay later giant Affirm expands to the UK in first major international foray
Affirm, the U.S. buy now, pay later firm, on Monday launched its services in the U.K. — its first expansion overseas.
LONDON — Buy now, pay later firm Affirm launched Monday its installment loans in the U.K., in the company's first expansion overseas.
Founded in 2012, Affirm is an American fintech firm that offers flexible pay-over-time payment options. The company says it underwrites every individual transaction before making a lending decision, and doesn't charge any late fees.
Affirm, which is authorised by the Financial Conduct Authority, said its U.K. offering will include interest-free and interest-bearing monthly payment options. Interest on its plans will be fixed and calculated on the original principal amount, meaning it won't increase or compound.
The company's expansion to the U.K. marks the first time it is launching in a market outside the U.S. and Canada. Globally, Affirm counts over 50 million users and more than 300,000 active merchants, including Amazon, Shopify and Walmart.
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