Core Insights - Fiserv has partnered with Affirm to integrate buy now, pay later (BNPL) capabilities into its debit card programs, responding to consumer demand for flexible payment options [2][4] - The collaboration aims to enhance customer engagement and transaction growth by allowing issuers to embed BNPL into existing debit products [5] Group 1: Partnership Details - The partnership is designed to provide community and regional banks and credit unions with the ability to meet evolving consumer expectations for payment flexibility [3] - Affirm and Fiserv will handle all technical aspects of the integration, combining Affirm's real-time underwriting and loan origination capabilities with Fiserv's digital solutions [4] Group 2: Market Context - The announcement follows Affirm's plans to establish a bank subsidiary, Affirm Bank, which aims to diversify its platform and offer more financial products [6] - Consumers who are likely to use BNPL have average credit card balances that are $1,128 higher than those who are unlikely to use it, indicating a significant financial behavior trend [7] Group 3: Consumer Behavior Insights - Habitual BNPL users hold average credit card balances of $5,181, which is approximately 60% higher than non-users, reflecting a shift in how households manage short-term credit [7][8] - The trend of using BNPL is seen as a strategy for managing timing mismatches between income and expenses rather than reckless spending [8]

Core Insights - Fiserv has announced an exclusive collaboration with Affirm to integrate pay-over-time capabilities into debit card programs for financial institutions, allowing them to meet consumer demand for flexible payment options without developing new lending products [1][2] Group 1: Collaboration Details - The partnership builds on a previous integration in 2022, enhancing Fiserv's commitment to innovative debit solutions for financial institutions [2] - The collaboration aims to provide community and regional banks and credit unions with a scalable way to offer payment flexibility through existing debit products, enhancing customer relationships and engagement [2] Group 2: Benefits of the Integration - The integration will manage all technical aspects, allowing banks and credit unions to offer Affirm's flexible payment options seamlessly without operational lift [5] - Debit cardholders will have the option to split eligible purchases into fixed payments with a clear repayment schedule and no hidden fees, directly from their bank's mobile app [5] - Consumers will have access to Affirm's network of nearly 420,000 merchants, enabling them to apply for flexible payment options and expand their purchasing power [5]

Core Insights - Affirm Holdings, Inc. has applied to create its own banking entity, Affirm Bank, aiming to deepen its integration into the banking sector and transform credit and payment solutions for consumers and merchants [1][2] - The establishment of Affirm Bank is intended to foster sustainable growth through a federally insured framework, broadening the availability of transparent financial tools that prioritize user interests [2][4] Company Strategy - The new subsidiary will operate alongside Affirm's current operations and partnerships, providing increased adaptability and variety in offerings, potentially leading to innovative products and services [3][9] - Max Levchin, Affirm's CEO, emphasized the strategic importance of this initiative to fortify the company's platform and enhance access to straightforward financial options for individuals [4][9] Financial Impact - Since its inception, Affirm has facilitated nearly $130 billion in credit extensions, serving around 60 million individuals without imposing delayed or concealed charges, contrasting with traditional credit cards [5][6] - Estimates suggest that American families could have avoided $18 billion in costs during 2024 by utilizing Affirm's evaluation methods and fee-free structure [6] Leadership and Oversight - John Marion has been appointed as the president of the proposed bank, bringing over 25 years of experience in banking and fintech from major institutions [7] - The subsidiary will feature autonomous oversight and internal safeguards, supported by a seasoned leadership team well-versed in banking regulations [8] Industry Evolution - Affirm Bank could represent a pivotal evolution for the buy-now-pay-later (BNPL) industry, blending innovative lending with traditional banking stability to better serve a digital economy [9]

Core Viewpoint - A comprehensive case review into the 2005 death of author-journalist Hunter S. Thompson has confirmed the original conclusion by authorities that he took his own life [1] Group 1 - The Colorado Bureau of Investigation conducted a thorough review, including autopsy records [1]

Core Insights - Affirm is seeking to establish a bank subsidiary named Affirm Bank to enhance its financial services and product offerings [2][3] - The proposed bank will be a Nevada-chartered industrial loan company, allowing Affirm to scale operations while being FDIC-insured [2][3] - Affirm's CEO, Max Levchin, emphasized that the banking subsidiary would diversify the platform and provide more accessible financial products to consumers and merchants [4] Company Developments - Affirm has submitted applications to the Nevada Financial Institutions Division and the FDIC for the establishment of Affirm Bank [2] - If approved, Affirm Bank will operate independently with its own governance and internal controls [3] - The establishment of the bank is part of Affirm's strategy to expand access to financial products, particularly for younger consumers and those underserved by traditional credit systems [5] Industry Context - The trend among FinTech companies, including Affirm, is to pursue bank charters to broaden product lines and streamline access to the U.S. financial system [6] - Other FinTechs, such as Revolut, are also seeking banking licenses to enhance their service offerings in the competitive retail finance market [6]

About Affirm Affirm's mission is to deliver honest financial products that improve lives. By building a new kind of payment network—one based on trust, transparency, and putting people first—we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | X. SAN FRANCISCO--(BUSINESS WIRE)- ...

Group 1 - Affirm is applying for a bank charter in Nevada to establish Affirm Bank, which will be a Nevada-chartered industrial loan company [9] - The establishment of a banking subsidiary is expected to strengthen and diversify Affirm's platform, allowing the company to introduce new financial products and services over time [4][3] - Affirm currently offers services like a debit card and buy now, pay later (BNPL) financing, and collaborates with banks such as Cross River Bank and Celtic Bank for its lending services [5] Group 2 - The move into banking is part of a broader trend among fintech companies, with competitors like Klarna and PayPal also seeking to enter the banking space [6][7] - Klarna has positioned itself as a "global digital bank" and has introduced deposit accounts and its own debit card [6] - The application for a bank charter by Affirm reflects a growing interest among BNPL firms to expand their service offerings beyond traditional lending [3][9]

The U.S. financial technology sector could experience a significant upswing as President Donald Trump shifts his focus to affordability, according to analysts.Affordability Shift Favors FintechsTrump’s recent policy shift is causing investors to reconsider parts of the financial sector, with a potential emphasis on affordability that could favor fintech challengers over traditional lenders, reported Reuters on Thursday, citing a Citigroup Inc. note.Companies offering consumer-friendly credit and small-busin ...

Buy now, pay later (BNPL) provider Affirm has partnered with FinTech company Esusu to enable some people to pay their rent in two installments, CNBC reported Thursday (Jan. 22), citing an Affirm spokesperson.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNT ...

Affirm Holdings Inc (NASDAQ:AFRM) stock has been ripping higher, returning investors about 30% over the past year. Analysts have price targets suggesting at least 30-40% upside, and retail optimism is building — but Kerrisdale Capital says the entire rally is built on a familiar and dangerous illusion.Track AFRM stock here.In a sharply worded short report, Kerrisdale branded Affirm a "Buy Now, Cry Later" story, arguing the BNPL leader is following the same subprime credit playbook that has burned lenders fo ...