Affirm founder Max Levchin on American Airlines deal, crypto

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And the wins keep piling up Buy Now, Pay Later Affirm Outfit.

The company announced this week that it has signed an agreement with American Airlines that will allow consumers to pay for their trip in installments.

“He’s there to help travelers. A lot of people will try to make it with family and not everyone is able to instantly pay it in cash,” Affirm Founder and CEO Max Levchin said on Yahoo Finance Live.

For Affirm, the American Airlines tie-up is the latest in a winning streak that has pushed the title up by about 61% since the start of the year.

Affirm stock exploded by more than 48% on August 30 after unveiling a new partnership with Amazon. As part of the deal, Affirm will help Amazon consumers fund major purchases.

In early August, Affirm entered into a financing agreement with Apple to purchase the tech giant’s products in Canada. In July, Affirm struck a deal with Shopify to provide financing options to the platform’s U.S. merchants.

Meanwhile, the company told investors at an event in September that it will soon be launching a new debit card and has launched a foray into crypto.

“Still quite skeptical”

Levchin – a co-founder of PayPal – is still a bit skeptical of cryptocurrencies. But he recognizes how important they have become in society and in financial services.

The story continues

“While crypto and more established coins like bitcoin are part of the vernacular of the retail investment industry, I think it can orient itself as an asset class,” Levchin explained. “I’m still quite skeptical of the rapid appreciation of an asset class used as a medium of exchange. So I don’t think it lives up to the currency’s name yet, though, like us know, things change pretty quickly. “

The volatility of crypto hasn’t stopped other financial services players from entering the waters.

Shares of Bakkt soared earlier this week after announcing a partnership with Mastercard to offer crypto debit and credit cards. The tie-up would make it easier for consumers to pay with digital coins, according to Yahoo Finance reporter Jennifer Shoenberger.

“You’re probably not going to see a crypto-linked Amex card anytime soon,” American Express CEO Squeri said at Yahoo Finance’s all-market summit on Monday. Squeri said he sees major cryptos like bitcoin and ethereum as an asset class like gold.

Squeri added, “I don’t really see it as something that’s going to make inroads with a credit card perspective in terms of payments. Why? First, there are still huge fluctuations. Second, you have the service. with. You don’t have the rights to dispute with it. You don’t get any rewards and you don’t give credit. “

Brian Sozzi is editor and presenter at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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