Founded in 2012 and publicly listed since 2021, Affirm has processed more than $75 billion in transactions in the US and Canada over the last five years. Now, the FCA-authorised and regulated lender is landing in the UK, initially offering its interest-free and interest-bearing monthly payment options. The company stresses that, while nearly one quarter of BNPL in the UK were charged late fees in 2023, it does not have any late fees or hidden charges and underwrites every individual transaction before making a real-time credit decision. Flight booking site Alternative Airlines and fintech and payments processor Fexco are onboard as UK launch partners, with more brands expected to follow.

Max Levchin, CEO, Affirm, says: "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."

Affirm is also beefing up its UK workforce, which currently stands at 30 people, led by VP and country manager Ruth Spratt.

Poppy Gustafsson, Minister for Investment, says: "We are proud to have Affirm establish a presence and open for business in the UK. Their substantial investment will not only help create tech-savvy jobs but underscores their confidence in the UK economy." The launch comes less than two years after Affirm quit the Australian market and ahead of new UK rules for the sector. Earlier this month, the government launched a consultation on its proposals, which will bring companies under the supervision of the FCA and apply the Consumer Credit Act, ensuring users receive clear information, avoid unaffordable borrowing, and have strong rights when issues arise.