Contents
What is Affirm quick overview video:
What is Affirm solving for? (Deeper dive video)
Why Affirm?
Affirm is a Buy Now, Pay Later (BNPL) financial services tool that allows shoppers to purchase goods and services with full transparency and with no hidden fees that are associated with traditional loans. Other shopper benefits of using Affirm:
-
Quick and easy
Checking out is simple at any shop that accepts Affirm. Simply enter a few details for a real-time decision. -
No hidden fees
Know upfront exactly what you’ll owe, with no hidden costs and no surprises. -
Safe & secure.
Affirm connects directly to online shops. There’s no card number to steal, so your account remains secure. -
You’re in control.
Pick a loan that fits your budget. You’ll make genuine progress each month, and at the end of your loan you’re fully paid up.
We created Affirm because credit cards aren’t working. With Affirm, you’ll never owe more than you agree to upfront. Instead, you’ll always get a flexible, transparent, and convenient way to pay gradually.
Affirm is available across all business types that offer both goods and services. Below are some of the business categories that we support:
Affirm earns a fee from businesses, and shoppers pay interest on some items.
Unlike credit card companies though, we don't depend on shoppers defaulting on payments or retaining debt. Instead, we try to give them a great experience so they return and use Affirm again.
How Affirm works
Affirm has a number of products that help both retailers and their shoppers. Those products and their specific details are available elsewhere. Generally, however, Affirm follows these steps:
-
The shopper browses and orders a product.
The shopper chooses Affirm as a payment method.
If they are eligible, then they select a loan that best suits their needs. They then finalise the purchase.
-
Affirm pays the retailer, the retailer is paid in full (less fees and refunds) 24 hours after capture on a rolling basis.
-
The shopper pays Affirm.
The shopper makes monthly payments to Affirm for the length of the loan.
Frequently asked questions
Here are some frequently asked questions that shoppers using Affirm ask. If you are a retailer that supports or plans to offer Affirm, it's best to have these questions displayed prominently on your eCommerce site .
Q: Will Affirm impact my credit rating?
A: Setting up an Affirm account and checking if you prequalify will not affect your credit rating. If you decide to buy with Affirm, these things may affect your credit rating: making a purchase with Affirm, your payment history with Affirm, the amount of credit you've used, and how long you’ve held credit.
Q: Does Affirm charge interest and fees?
A: We don’t charge any fees. That means no late fees, no prepayment fees, no annual fees, and no fees to open or close your account. Depending on the size of your purchase and where you’re shopping, your payment plan may include interest. You’ll never owe more interest than you agree to on day one-so you always know exactly what you’re getting into.
Q: What does it mean to prequalify?
A: When you prequalify, you get an estimate of how much you can spend with Affirm. You don’t have to use the full amount, and you’re not on the hook to pay anything back until you actually make a purchase.
Q: What if I don't see Affirm at checkout?
A: Thousands of stores offer Affirm as a payment option at checkout. But if you don’t see us at checkout, you can still pay over time. Just download the Affirm app (or sign in at Affirm.UK), tell us where you’re shopping, and we’ll give you a one-time-use virtual card you can use to complete your purchase online or in stores. Then, pay us back over time.