“Affirm co-founder and CEO Max Levchin joins Emily Chang to discuss the latest comments from Federal Reserve Chair Jerome Powell and the tech selloff, how it is affecting Affirm and the “Buy Now, Pay Later” industry, and why the company is approaching the next fiscal year “prudently.”

“Affirm, the payment network that empowers consumers and helps merchants drive growth, today announced a partnership with global travel platform Agoda, part of Booking Holdings, the world’s leading provider of online travel and related services. Now, eligible travelers can book their hotel accommodations for upcoming trips across the Agoda platform both on web and via the app and pay over time for bookings over $50.  By selecting Affirm as a checkout option on the platform, eligible travelers can split the total cost of purchases into either biweekly or monthly payments for as low as 0% APR. They are shown the total cost of their purchase and will never pay more than the agreed amount upfront. With Affirm, customers will know exactly what they owe with no additional late charges or hidden fees. Agoda integrates Affirm’s Adaptive Checkout to offer customers dynamic payment options to suit a variety of budgets and preferences, including four interest-free biweekly payments as well as monthly payment options.”

“Some of the riskiest loans given to millennials and Gen Z shoppers for clothes and electronics — and neatly repackaged for investors — are dropping in value. Securitization packages of buy-now-pay-later loans from one provider, Affirm Holdings Inc., are falling in price for investors to buy while becoming more expensive to issue, after rising rates and a cost-of-living crisis cast a shadow over the sector. Affirm has more than 12.7 million customers and extended around $3.9 billion of loans in the first three months of 2022. It was valued at $47 billion in September after a blockbuster listing on Nasdaq in January 2021, but its shares have fallen more than 80% this year.”

“It turns out that buy now-pay later services appeal to the rich as well as those less well off in an inflationary environment because both are eager to save a buck — at least that’s the conclusion in one equity analyst report on buy now-pay later company Affirm.”

“Affirm Holdings Inc. topped revenue expectations Monday afternoon while delivering an optimistic forecast for the current quarter. The buy-now-pay-later company posted a fiscal third-quarter net loss of $247.2 million, or $1.06 a share, compared with a loss of $85.6 million, or $1.80 a share, in the year-earlier quarter. Gross merchandise volume rose 83% from a year earlier to $2.3 billion. Excluding Peloton, Affirm’s GMV doubled from the year-prior period. Affirm saw a near tripling of volume in its travel and ticketing category on a sequential basis, the company disclosed in its release.”

“Affirm, Inc., the financial technology company that provides transparent and consumer-friendly payment alternatives to cash and traditional credit, today announced its new app, which allows consumers to shop at virtually any store and split their payments. The app enables consumers to shop with the trust and convenience that modern shoppers demand, furthering the company’s mission of providing honest financial products that improve lives. “Over the past 7 years, millions of customers have come to love the simplicity and transparency of shopping with Affirm—and they want to use our product everywhere,” said Max Levchin, co-founder and CEO of Affirm. “Today we’re excited to make this a reality with the new Affirm app, enabling consumers to use Affirm everywhere they love to shop.””