Affirm, a ‘responsible Buy Now Pay Later’ leader in the United States, has launched into the UK market.

Listed on the NASDAQ exchange in New York since 2021, Affirm has processed more than $75 billion in transactions in the US and Canada over the last five years and claims to not impose late fees or hidden charges.

Its network currently stands at 50 million consumers and over 300,000 active merchants worldwide, including brands such as Amazon, Shopify and Walmart.

Affirm is launching in the UK with Alternative Airlines, a leading flight booking site, and Fexco, a global FinTech and payments processor, with additional UK and international brands expected to follow. 

Affirm UK Limited is authorised and regulated by the Financial Conduct Authority. Founded in 2012, its stated mission is to ‘build honest financial products that improve lives’. The company offers approved consumers an alternative to credit cards and other pay-over-time options, providing the ability to split the total cost of purchases into budget-friendly payments.

Nearly one quarter of BNPL users in the UK were charged late fees in 2023. Affirm, which underwrites every individual transaction before making a real-time credit decision,  will initially offer its interest-free and interest-bearing monthly payment options. 

Any interest applied will be fixed and calculated solely on the original principal amount, meaning the amount of any interest does not ever increase or compound.

“Affirm was founded on the premise of putting people first and empowering consumers to take greater control over their finances,” said Max Levchin, founder and CEO.

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“Building on our leadership in the US and Canada, where we partner with top retailers and commerce platforms, we see a significant opportunity to extend our mission of building honest financial products to the UK. 

“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.”

With over 2,000 staff worldwide, Affirm currently has more than 30 employees in the UK, and plans to hire additional UK-based staff this year. 

The UK business is led by Ruth Spratt, VP and country manager, who has over 25 years of leadership experience across the payments, media and travel industries. She most recently served as UK country manager and board director for payments provider Zip. 

“There are many brilliant businesses in the UK that make this country what it is – and we can’t wait to start working with them,” she said. “The UK’s open economy, mature consumer market, and world-class talent makes it the perfect place for the next phase of Affirm’s journey.

“By entering the UK alongside a leading travel provider and platform partner, we’re able to expediently and deliberately begin growing Affirm’s UK network of consumers and merchants. We look forward to continuing to expand in the coming months.”

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