Affirm, one of North America’s leading buy now, pay later (BNPL) platforms, has officially launched in the UK.
Founded in 2012 and publicly listed since 2021, Affirm has processed over $75 billion in transactions in the US and Canada in the past five years. Now, as an FCA-authorized and regulated lender, the company is introducing its interest-free and interest-bearing monthly payment options to UK consumers.
Affirm emphasizes that, unlike nearly a quarter of BNPL providers in the UK who charged late fees in 2023, it does not impose any late fees or hidden charges. The company underwrites every transaction and makes real-time credit decisions.
For its UK launch, Affirm has partnered with flight booking site Alternative Airlines and fintech and payments processor Fexco, with additional partnerships expected to develop.
Max Levchin, CEO of Affirm, stated, “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.”
Affirm is also expanding its UK workforce, currently comprised of 30 employees, led by VP and country manager Ruth Spratt.
Poppy Gustafsson, Minister for Investment, remarked, “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 launch occurs less than two years after Affirm exited the Australian market and ahead of new UK regulations for the sector. Earlier this month, the government began a consultation on proposals that would place BNPL companies under FCA supervision and enforce the Consumer Credit Act, ensuring users receive clear information, avoid unaffordable borrowing, and benefit from strong rights in case of issues.