Competitor Profile: Affirm 2024

Competitor Profile: Affirm 2024

Summary

Founded in 2012, Affirm was one of the earliest buy now pay later (BNPL) startups enabling consumers to pay for goods and services in installments. Its BNPL service was initially available online but was later extended to include in-store purchases.

Founded in 2012, Affirm was one of the earliest buy now pay later (BNPL) startups enabling consumers to pay for goods and services in installments. Its BNPL service was initially available online but was later extended to include in-store purchases.

In January 2021, Affirm acquired Canadian BNPL provider PayBright and started its operations in the country. With the popularity of BNPL in Australia, Affirm decided to enter the market in December 2021 and take on domestic BNPL provider Afterpay. However, in March 2023, Affirm closed its operations in Australia. Meanwhile, in February 2023, Affirm acquired UK-based BNPL firm Butter Holdings.

With 18 million users and 292,000 merchant partners, the company offers both online and in-store payments and has become a strong alternative to credit cards, as well as a key payment solution for people with limited access to traditional credit.

The report provides information and insights into Affirm including -

• Detailed insight into its business
• Comprehensive coverage of its products and services
• Comparative assessment with key alternative payment solutions
• Information on its performance highlights
• The company's important events and milestones

Scope

• In July 2014, Affirm launched Split Pay, a service that lets online merchants offer BNPL at the POS.
• In November 2018, Affirm introduced retail discovery tool that shows consumers where to use Affirm.
• In August 2019, Affirm partnered with Verishop to offer BNPL options on its online shopping platform.
• In November 2020, Affirm partnered with Adyen to let Adyen’s merchants add Affirm as a payment option.
• In May 2022, Affirm and Fiserv partnered to make Affirm available to Fiserv enterprise merchant clients later in 2022.
• In September 2022, Amazon expanded partnership with Affirm to offer BNPL services in Canada.
• In April 2023, extended partnership with Stripe to offer BNPL services for Stripe customers in Canada.
• In June 2023, Affirm partnered with Amazon Pay to offer Affirm’s Adaptive Checkout to Amazon Pay’s US merchants.
• In December 2023, Affirm partnered with Google Pay to offer flexible payment options to Google Pay’s consumers and merchants from Q1 2024.
• In December 2023, Affirm partnered with Walmart to offer its BNPL services at self-checkout kiosks at over 4,500 Walmart stores in the US, as well as Walmart Vision and Auto Centers.

Reasons to Buy

• Gain insights into Affirm's business operations and key events.
• Gain insights into its product portfolio and performance highlights.
• Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.