Affirm Targets Card Networks With Broader Payments Push

As buy now, pay later (BNPL) firms compete to move beyond checkout financing, Affirm used its investor forum Tuesday (May 12)  to argue that growth and share of spend across consumer payments will be cemented through data, underwriting and network scale rather than promotional lending alone. “We’ve built a network,” CEO Max Levchin said at the program’s outset. “It is a network that is real in a sense that it is fully closed loop.