Affirm, the payment network aiming to empower consumers while helping merchants drive growth, has officially launched in the UK, bringing its pay-over-time options to the region.
Founded in 2012, Affirm offers approved consumers an alternative to credit cards and other pay-over-time options, providing the ability to split the total cost of purchases into budget-friendly payments. While nearly one-quarter of buy now, pay later users in the UK were charged late fees in 2023, Affirm does not have any late fees or hidden charges, which supports the responsible extension of credit.
Affirm’s expansion to the UK adds to its presence in the US and Canada, enabling it to further build upon its network of 50 million consumers and over 300,000 active merchants worldwide, including brands such as Amazon, Shopify and Walmart.
In the UK, authorised and regulated by the Financial Conduct Authority, Affirm will initially offer its interest-free and interest-bearing monthly payment options. It will fix any interest applied, calculating it based solely on the original principal amount – ensuring the amount of any interest does not increase or compound. The firm promises that consumers will always know what they owe upfront.
“Affirm was founded on the premise of putting people first and empowering consumers to take greater control over their finances,” explains Max Levchin, founder and CEO of Affirm. “Building on our leadership in the US and Canada, where we partner with top retailers and commerce platforms, we see a significant opportunity to extend our mission of building honest financial products to the UK. We know that UK consumers are savvy shoppers who appreciate upfront, no-nonsense products.”
Entering the UK market
Affirm is launching in the UK with flight booking site Alternative Airlines, and Fexco, a global fintech and payments processor, with additional UK and international brands expected to follow. Eligible Alternative Airlines customers can now select Affirm at checkout, go through an eligibility check, and if approved, select from Affirm’s monthly payment plans for their flight purchases.
Sam Argyle, managing director of Alternative Airlines, said: “Consumers demand payment choice, flexibility and transparency at checkout, and Affirm delivers all three. Over the last five years, we’ve seen the value that Affirm delivers to our US travellers, and more recently with our Canadian travellers.”
Additionally, Fexco’s international clients with a UK presence can easily integrate Affirm and offer it as a payment option to their customers at checkout.
Brian Cleary, CEO, of Fexco OpenConnect, shared: “Their leadership in the travel sector, technological expertise, and capacity to serve a broad range of transactions make them uniquely suited to serve our network of premier cruise lines. Additionally, their customisable terms and steadfast commitment to never charging late and hidden fees, like compound interest, ensure that our partners can fully benefit from Affirm’s consumer-centric approach. We look forward to working with Affirm to empower more travellers to enjoy memorable experiences.”
Plans for growth
With over 2,000 staff worldwide, Affirm currently has more than 30 employees in the UK, and plans to further add to its UK-based team this year. Affirm’s UK business is led by Ruth Spratt, VP and country manager. Boasting over 25 years of leadership experience across the payments, media, and travel industries, she most recently served as UK country manager and board director for payments provider, Zip.
Spratt and her UK-based team will drive Affirm’s growth in the market through the expansion of merchant and channel partnerships, while maintaining full regulatory compliance.
Spratt said: “There are many brilliant businesses in the UK that make this country what it is – and we can’t wait to start working with them. The UK’s open economy, mature consumer market, and world-class talent makes it the perfect place for the next phase of Affirm’s journey.
“By entering the UK alongside a leading travel provider and platform partner, we’re able to expediently and deliberately begin growing Affirm’s UK network of consumers and merchants. We look forward to continuing to expand in the coming months.”
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