Payments

Affirm founded by Star Team Secures $45 Million Funding

Cart Abandonment is an old problem with newer, bigger issues. For e.g., on Mobile it happens more than on desktop. One Click payments is definitely a step in the right direction, and what if you could combine that with pay later in 30 days? Affirm was founded in 2013 by Max Levchin (CEO, Ex – PayPal), Jeffrey Kaditz (CTO) and Nathan Gettings (CRO). The company announced today (10th June, 2014) that it had raised $45 Million funding.

  • Affirm’s team comes from some of the most impressive names in the industry – Google, Zynga, American Express, Yelp, YouTube, Yahoo, Microsoft, ngmoco, Flixster, Palantir, PayPal, slide, Ideo, Square and RoboteX.
  • Affirm’s team comes from some of the most impressive names in the industry – Google, Zynga, American Express, Yelp, YouTube, Yahoo, Microsoft, ngmoco, Flixster, Palantir, PayPal, slide, Ideo, Square and RoboteX.
  • Affirm’s system now offers shoppers financing in a matter of seconds.
  • The company, whose funding is in equity and debt, could change the way consumers approach payment options by eliminating the need for credit cards, Levchin told Bloomberg.
  • Affirm’s investors include Khosla Ventures and lightspeed Venture Partners. Levchin didn’t disclose the startup’s valuation.

Dont get surprised if you see Pay Later in a lot of checkouts going forward, while buying. PayLater with Affirm is a fast and easy way for users to pay for goods online. Affirm enables them to checkout almost instantly after providing some basic information (such as email or Facebook address). There is no need of entering his personal or credit details. They do not check your credit report or submit information to it either.

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  • Your mobile phone number and birthday is all that is required to check out with Pay Later. Affirm opens an instant tab for you and your order is processed immediately. No credit card or password details required.
  • A user can settle his bills via: bank transfer, check, or a credit or debit card.
  • Affirm charges merchants a small fee to provide this premium service for their customers, but they do not charge buyers a fee for purchasing. Affirm is free to use to make online purchases. They will not charge you any fees or interest.
  • You can pay your Affirm balance online at www.affirm.com/pay. Affirm accepts payment by debit card, credit card, bank payment, as well as check.

Chiraag Patel

Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading& Blogging with focus on New Innovation, Technology & Startups in the Payments Space.

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