Competitor Profile: Affirm 2025

Competitor Profile: Affirm 2025

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.

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.

In June 2024, Affirm introduced two new payment options: Pay in 2, allowing consumers to split purchases into two interest-free payments, and Pay in 30, enabling full payment interest-free within 30 days, both with no late fees.

With 21 million users and 337,000 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 revenue model and performance highlights
• The company's important events and milestones

• 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 June 2024, Affirm expanded its payment offerings by introducing two new options: Pay in 2 and Pay in 30. These options allowed consumers to split purchases into two interest-free payments or pay in full interest-free within 30 days.
• In August 2024, Hotels.com partnered with Affirm to offer flexible payment options for accommodation, allowing approved guests to split their total purchase into installments.
• In September 2024, Affirm was made available to eligible users checking out online and in-app with Apple Pay on iPhone and iPad.
• In February 2025, FIS partnered with Affirm to integrate pay-over-time capabilities directly into its debit issuing banking clients and their cardholders. This collaboration allowed customers to access Affirm's payment options directly through their digital banking platforms.
• In April 2025, Stride Bank announced a partnership with Affirm to become a card issuing partner for the Affirm Card.

• Learn about company's business proposition, and important achievements regarding product launches, partnerships, mergers, and acquisitions.
• Examine the company’s operational and financial performance and benchmark it against its competitors.
• Detailed insight into company's current products and services mix.

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