US BNPL fintech Affirm launches pay-over-time options for UK consumers
Buy now, pay later (BNPL) giant Affirm is rolling out its pay-over-time options in the UK, building on its already established presence in the US and Canadian markets.
San Francisco-based Affirm launches offerings in the UK
In a statement on the launch, the San Francisco-based fintech says it plans to initially offer its flagship “interest-free and interest-bearing monthly payment options” to UK consumers, regulated by the country’s Financial Conduct Authority (FCA).
Adding to a 300,000-strong merchant network, these options are to be made available through the checkouts of Affirm’s newest UK partners: flight booking site Alternative Airlines and payments processor Fexco.
Affirm says additional partnerships with UK and international brands are “expected to follow”, with service delivery to be bolstered by plans to hire “additional UK-based staff this year”.
The fintech, which listed on Nasdaq in 2021, currently maintains a workforce of around 30 employees in the UK, with the proposed expansion to be led by VP and country manager Ruth Spratt.
Spratt, the former UK country manager and board director for BNPL provider Zip, says the UK market is “the perfect place for the next phase of Affirm’s journey”, citing the country’s “open economy, mature consumer market, and world-class talent”.
She says the finalised partnerships with Alternative Airlines and Fexco have enabled Affirm to “expediently and deliberately begin growing” its UK network of consumers and merchants.
Founded in 2012, Affirm claims to currently service 50 million consumers with its pay later options, with more than $75 billion processed over the last five years.
The fintech previously expanded its services to Canada in 2022 through its acquisition of Toronto-headquartered BNPL provider PayBright completed two years prior.
