Online lender focused on building “honest finance” products for consumers.
The online lender is spearheading a new category in fintech, which it calls “honest finance.” The goal, as the name may suggest, is to offer “transparent” and “honest” financial products, which do not hurt consumers’ financial health.
Once approved for a loan at POS, consumers receive a one-time use virtual card via Affirm’s app, which they can use for the purchase. Then, Affirm splits the bill into monthly payments. At year end 2016, the lender had signed north of 900 merchant-partners, up from 100 from the year prior.