Skip to main content

Market Overview

US Buy Now Pay Later Player Affirm Launches In UK, Will Compete With PayPal And Klarna

Share:
US Buy Now Pay Later Player Affirm Launches In UK, Will Compete With PayPal And Klarna

Affirm Holdings Inc (NASDAQ:AFRM), a U.S.-based buy now, pay later provider, launched its service in the UK on Monday, marking its first overseas expansion. CEO Max Levchin said Affirm chose the UK due to strong demand from British merchants, describing it as "a huge market, it's English-speaking."

What Happened: Affirm's move places it in direct competition with established players like Klarna and PayPal. Levchin highlighted Affirm's unique approach, with no late fees and fixed interest, stating, "We don't do any of the anti-consumer stuff people struggle with," reported CNBC.

Affirm's launch coincides with the UK government's plan to regulate BNPL services to ensure consumer protection. Levchin supports these efforts, noting, "We welcome regulation that is thoughtful…but also knows how not to be too cumbersome on the end-customer."

Authorized by the Financial Conduct Authority, Affirm's UK service will offer interest-free and interest-bearing monthly payment options.

Read Next:

Image Via Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote

 

Related Articles (AFRM)

View Comments and Join the Discussion!

Posted-In: Affirm Kaustubh Bagalkote SHLEquities News Financing Markets

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com