Affirm, the payment network that empowers consumers and helps merchants drive growth, has launched its flexible and transparent pay-over-time options in the UK.

Founded in 2012, Affirm’s mission is to build honest financial products that improve lives. The company 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 underwrites every individual transaction before making a real-time credit decision and only approves consumers following an assessment that evidences their ability to repay.

Affirm’s expansion to the UK adds to its presence in the US and Canada. This will enable Affirm to further build upon its growing network of 50 million consumers and over 300,000 active merchants worldwide, including brands such as Amazon, Shopify, Walmart, and many more. Affirm has been publicly traded on NASDAQ since 2021 and has processed more than $75 billion over the last five years.

In the UK, Affirm will initially offer its interest-free and interest-bearing monthly payment options. Any interest applied will be fixed and calculated solely on the original principal amount, meaning the amount of any interest does not ever increase or compound. Consumers will always know what they owe upfront. Affirm UK Limited (“Affirm”) is authorised and regulated by the Financial Conduct Authority.

Affirm is launching in the UK with Alternative Airlines, a leading flight booking site, and Fexco, a leading 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. 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.

Max Levchin, Founder and CEO of Affirm, commented: “Affirm was founded on the premise of putting people first and empowering consumers to take greater control over their finances. 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. We look forward to offering them responsible credit options that truly put consumers first and working collaboratively with our UK partners to demonstrate how honest finance is good business.”

Poppy Gustafsson, Minister for Investment, commented: “We are proud to have Affirm establish a presence and open for business in the UK. Their substantial investment will not only help create tech-savvy jobs but underscores their confidence in the UK economy. This government is laser-focused on supporting business growth and expansion. The UK market offers a range of exciting opportunities, helping companies diversify their offerings and revenue streams, and making the UK one of the most innovative economies in the world.”