“Founded by entrepreneur Max Levchin, the company announced the launch of a retail discovery tool that shows consumers where to use Affirm. Additionally, existing Affirm customers will be shown individually tailored offers at select merchants most relevant to their shopping habits via the Affirm app and customer portal, including exclusive offers not available via Affirm broadly. Affirm customers are also able to “bookmark” offers and items in the app as they browse for the best deal possible.”
November 13, 2018 07:30 AM Eastern Standard Time
Max Levchin, CEO and co-founder of Affirm
Fintech Company Affirm Unveils Updated Brand, New Logo and Shopping Features in Time for the Holidays
Affirm app to provide customized credit offers from exclusive partners for existing Affirm users
SAN FRANCISCO–(BUSINESS WIRE)–Affirm, the financial technology company that provides transparent and consumer-friendly payment alternatives to cash and traditional credit, today unveiled an updated brand and announced an expanded suite of consumer-facing products and services.
Founded by entrepreneur Max Levchin, the company announced the launch of a retail discovery tool that shows consumers where to use Affirm. Additionally, existing Affirm customers will be shown individually tailored offers at select merchants most relevant to their shopping habits via the Affirm app and customer portal, including exclusive offers not available via Affirm broadly. Affirm customers are also able to “bookmark” offers and items in the app as they browse for the best deal possible.
Affirm is returning long-lost control and transparency to financial services in an effort to unlock financial possibilities for consumers. Affirm’s updated brand was designed to bring this commitment to life, incorporating a number of new visual elements, from humanistic and energetic patterns to a warmer color palette. Affirm’s new logo was custom-designed by identity designer Mackey Saturday, and combines a sans serif approach, unique embellishments, and an arc symbolizing optimism and uniting the various visual elements of the brand.
“In the five years since we launched, our partnerships with retailers have given us incredible insight into where, how, when and why consumers buy,” said Max Levchin, CEO and co-founder of Affirm. “We now have an opportunity to use those insights to introduce consumers to the retailers where they can get the best deal available to them with Affirm. The next evolution of our brand speaks to the confidence consumers have when they buy with us.”
With the expansion of consumer-facing offers, Affirm is evolving beyond simply a way to pay by showing consumers where they can shop with confidence using Affirm. This launch comes at a time when many Americans are planning for the holidays and determining how much they’ll spend on gifts, winter apparel, seasonal decor and travel to see friends and family.
The average American now owes more than $6,300 in credit card debt and 71 percent of credit lines revolve, meaning $687 billion in credit card balances carry over month to month and are exposed to compound interest and fees. According to Affirm research, holiday shopping is a stressful time for Americans when it comes to finances, and many people struggle to budget and control spending:
Only 21 percent of Americans surveyed went into the holiday shopping season in 2017 with a set budget;
Forty percent spent more than they planned for the holidays last year and half acquired credit card debt as a result;
Nearly 70 percent acquired credit card debt shopping for the holidays in 2017 and say it has made them cautious of making purchases for the holidays this year.
“Consumers tell us what they love most about Affirm is the ability to buy the things they need responsibly, in a way that gives them the ability to free up cash by spreading out costs over time,” said Jack Chou, Chief Product Officer at Affirm. “The holidays are a time when we know consumers are wary about overspending and we’re excited to give them really great offers that will also help them avoid post-holiday financial regret.”
Since its founding in 2013, Affirm has revolutionized the retail credit market by offering purchase finance at scale at over 1,200 leading retailers in the U.S. across verticals including furniture and home decor, travel, hobbies, consumer electronics, auto and powersports, apparel and beauty, and recreation and fitness.