Affirm : The pay-later opportunity for banks, and why we’re bringing Affirm to existing debit cards

Published: 2025-05-22 09:36:06 ET AFRM

Published on 05/22/2025 at 09:36

By Wayne Pommen, Chief Revenue Officer, Affirm

In 2023, Affirm made history by launching a first-of-its-kind debit card with pay-later functionality, giving consumers the option to either pay in full or request to pay over time using the Affirm app.

Now, we're helping financial institutions - such as banks and credit unions - deliver this same product experience to their debit cardholders. Our new partnership with FIS allows their vast network of banking clients to integrate Affirm's payment solution into their existing debit card programs via their digital banking and mobile app platforms.

For debit issuers, this isn't just about adopting new technology; it's about meeting evolving cardholder needs and unlocking new avenues for growth.

Why offer pay-later as a bank

Flexible pay-over-time plans are here to stay, as consumers increasingly seek out and expect to see these payment options whenever and wherever they transact. Pay-later solutions are now used by more than half of Americans, a recent survey found, with nearly 60% of millennials and Gen Z leading this trend.

Offering these payment options directly through their existing debit cards allows issuers to meet this fast-growing consumer need, as well as attract and retain more cardholders. In fact, seven out of 10 pay-later customers say they want installment plans issued by their bank. This is a strategic way for financial institutions to remain top of wallet, address more transactions, and keep their cardholders' spend within their ecosystem-leading to more engagement and higher revenue.

Why partner with Affirm

Affirm is offering issuers something special by bringing its pay-later solutions to their existing debit cards, including:

For banks and credit unions, the moment to act on pay-later is now-and Affirm is offering a uniquely powerful way to capture it.

The Affirm Card is a Visa® debit card issued by Evolve Bank & Trust (Evolve), Member FDIC, pursuant to a license from Visa U.S.A. Inc. Affirm is not a bank. FDIC insurance will only cover the failure of Evolve. Learn more.

Rates from 0-36% APR. For example, a $800 purchase might cost $72.21/mo over 12 months at 15% APR. Payment options through Affirm are subject to an eligibility check, may not be available everywhere, and are provided by these lending partners: affirm.com/lenders. Options depend on your purchase amount, and a down payment may be required. For licenses and disclosures, see affirm.com/licenses.

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Disclaimer

Affirm Holdings Inc. published this content on May 22, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 22, 2025 at 13:35 UTC.