On June 8, Beijing time, Max Levchin, CEO of the American “buy now, pay later” giant Affirm, said,He’s not worried about Apple’s upcoming buy now, pay later servicebecause Affirm’s services are wider and longer.
▲ Affirm CEO Max Levchin
“I don’t think there’s anything to worry about,” Levchin said.Lots of room for growth on all sides. “He said buy now, pay later transactions account for less than 5 percent of U.S. transactions.
Affirm offers loans to customers for periods ranging from 6 weeks to 60 months, and Apple allows customers to make four payments over a 6-week period.Levchin sees Apple services as a boost to buy now, pay later market.
On Monday, local time, Apple officially launched the Apple Pay Later service at WWDC. Unlike other similar platforms, Apple Pay Later is directly integrated into the iPhone Wallet App.The app comes pre-installed on new iPhones.
Sweden’s “buy now, pay later” service provider Klarna is Affirm’s competitor, Klarna recently announced 10% layoffs due to difficult circumstances. Levchin said that they are still recruiting people,He thinks Apple’s new service will challenge rivals that focus on short-term lending.
Apple’s current buy now, pay later service does target short-term lending, but Apple is also developing Apple Pay Monthly Installments, which will compete directly with Affirm.
.
[related_posts_by_tax taxonomies=”post_tag”]
The post Affirm CEO of the US version of “Huabei”: Apple’s buy now, pay later service does not pose a threat to the company appeared first on Gamingsym.