Affirm Brings Pay-Over-Time Options to the UK Market

San Francisco-based fintech Affirm, a leading player in the Buy Now, Pay Later (BNPL) market, has announced the launch of its pay-over-time services in the UK, marking a significant expansion from its established presence in the US and Canada, as highlighted by Fintech Futures.

Affirm will offer its well-known “interest-free and interest-bearing monthly payment options” to UK consumers, with regulatory oversight from the UK’s Financial Conduct Authority (FCA). Currently, Affirm partners with 300,000 merchants globally, and UK consumers can now access its services through checkout options with new partners, including Alternative Airlines and payments processor Fexco. More UK and international partnerships are expected to follow, according to Affirm.

The expansion will also involve building a UK-based team, with plans to recruit additional employees this year. Ruth Spratt, Affirm’s VP and UK country manager and former board director at BNPL provider Zip, stated that the UK market is “the perfect place for the next phase of Affirm’s journey” due to its “open economy, mature consumer market, and world-class talent.”

Founded in 2012, Affirm now serves 50 million customers and has processed over $75 billion in BNPL transactions over the past five years. This UK expansion follows its entry into the Canadian market in 2022, facilitated by the acquisition of Toronto-based PayBright in 2020.