Affirm: Great Idea, Not-So-Great Company

Affirm: Great Idea, Not-So-Great Company
·5 min read

Affirm and its "buy now, pay later" rivals allow consumers to pay for items in scheduled instalments, instead of using a traditional credit card. Credit card companies like Mastercard and Visa make money by charging their customers compounding interest and late fees. For 0% financing, Affirm makes money by charging merchants fees to use its services; those shops pay up in hopes that Affirm's flexible payment options will encourage customers to buy from them.

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