Affirm Now Represents Half of US Buy Now, Pay Later Revenues, Cementing Its Dominance in the Space
There’s no “later” in Affirm’s growth story — the fintech powerhouse has quickly captured over half of the US buy now, pay later (BNPL) revenue, processing an impressive $7.6B in quarterly transactions. Fueled by high demand for private credit and strategic partnerships with Apple and Shopify, Affirm’s innovative zero-fee model is transforming consumer financing — at breakneck speeds.
- Affirm charges fees to merchants rather than shoppers, which helped boost its revenue by 41% year-over-year, while active users and transactions per user climbed by 21% and 25%, respectively.
- Its debit card program exploded by 171% annually to $607M in quarterly volume as cardholders lean into purchase financing with interest-free installments.
Tea, crumpets, and BNPL: Affirm is now entering the UK’s BNPL market just as holiday spending ramps up. Affirm’s CEO believes long-term financing on big-ticket items is “not well served in the UK,” and with its“huge competitive moat” — battle-tested underwriting infrastructure — the fintech is well-positioned to grow in this space. From Big Ben to big spending, Affirm’s about to make “buy now, pay later” sound as British as fish and chips.
