Affirm your intention to add crypto trading

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Affirm, who works in the buy now, pay later (BNPL) arena, will join the bitcoin space, CNBC reported.

Affirm CEO Max Levchin said his company was working on a feature that allows consumers to buy and sell cryptocurrency from their savings accounts, according to the report, although he did not did not specify a deadline.

It’s time for Affirm to take over cryptocurrency in a way that we feel is organic, Levchin said, according to the report. We will soon be leveraging our savings accounts to enable seamless crypto ownership.

Affirm will be competing in a crowded space as everyone from online lenders to mobile investing apps and crypto exchanges try to attract new, younger customers, according to the report.

Several emerging FinTechs have started with more specialized offerings. But now they are trying to offer more banking and financial services to people who have tried to avoid going to physical branches, instead expecting products to have simple and easy user interfaces, according to the report. .

Coinbase launched a feature this week to allow users to be paid in bitcoin or other cryptos, with paychecks directly deposited into Coinbase accounts. Other services offering this kind of functionality include PayPal, SoFi, Chime, and Robinhood, according to the report. And Upgrade, which offers affordable credit, launched a feature earlier this year to allow users to earn 1.5% bitcoin rewards on every purchase with their Upgrade credit card.

Earlier this month, Affirm launched a partnership with TicketNetwork, which will allow customers to pay for their tickets in the TicketNetworks resale marketplace in installments.

Read more: TicketNetwork adds an alternative to BNPL thanks to a partnership with Affirm

The deal came as demand for tickets to in-person events increased as pandemic restrictions were lifted. TicketNetwork CEO Don Vaccaro said being able to pay the BNPL way would have an overall positive effect.

The return of the in-person events has generated significant excitement and demand among consumers, which we plan to continue, Affirmer Commercial Director Silvija Martincevic said at the time.

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NEW PYMNTS DATA: TODAY’S SELF-SERVICE PURCHASING JOURNEY – SEPTEMBER 2021

By the way: 80% of consumers want to use non-traditional payment options like self-service, but only 35% were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a collaboration between PYMNTS and Toshiba, analyzes over 2,500 responses to find out how merchants can address uptime and perception issues to meet the demand for free kiosks -service.

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