Bold Names Affirm’s Max Levchin: Why ‘Buy Now, Pay Later’ Beats Credit Cards
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Jan 9, 2026 
Max Levchin, the CEO and co-founder of Affirm and a PayPal co-founder, dives into the transformative role of 'buy now, pay later' (BNPL) in consumer finance. He shares his personal journey from experiencing credit struggles as an immigrant to founding Affirm, emphasizing transparency and the avoidance of late fees. Levchin details how BNPL differs from traditional credit cards, explores AI's revolutionary impact on shopping and underwriting, and discusses initiatives like the Affirm debit card and partnerships with major retailers to expand access.
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Denied Car Loan Sparked Affirm
- Max Levchin recounts being denied a car loan despite recent PayPal success because his credit score was wrecked by student credit-card delinquencies.
- That personal experience motivated him to build Affirm to make borrowing understandable for newcomers.
Show The Cost Before Purchase
- Affirm shows borrowers the full payment schedule before completing a purchase to ensure transparency and informed consent.
- This upfront clarity contrasts with opaque revolving credit and aims to reduce surprise interest costs.
Use Clear Installments To Lift Sales
- Offer simple, transparent installment plans to hesitant buyers to boost conversion and average order value.
- Merchants can convert more sales by presenting clear costs instead of ambiguous credit options.