The Ledger
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Levchin: Affirm is the only BNPL provider doing multi-year installment loans
“So we are the only company in the industry really, there's plenty of competitors who are trying and some degree of success, but mostly not really, who will go into longer term loans. And by longer, I don't mean mortgage or, you know, 15 plus years, but like th…”
Levchin: Affirm does not charge late fees to consumers
“And if you're late, we're not going to charge you a late fee because that's our fault. We didn't remind you correctly. And when we made the underwriting decision, we made the choice to take you on as a risk and that that's, we're going to have to stick with.”
Levchin: Affirm has transacted with over 50 million Americans across four countries
“We've transacted with roughly 50 plus million Americans alone, and we're now live in four countries and growing pretty quickly.”
Levchin: Affirm does not perform hard credit pulls for instant loans
“We don't do a hard pull as they call it in the industry. So you don't really, we don't ding your credit record.”
Rampell: Affirm underwrites loans in half a second using five fields
“This is actually a company that's in our portfolio that actually I co-founded called Affirm. We just need name, email, mobile number, birthday, and the last four of your social security number, and within about half a second, we can underwrite a loan.”