Affirm CEO Max Levchin explains the buy-now, pay-later company's increased guidance and the opportunity it sees from its new deal with Costco.

San Francisco

Affirm CEO Max Levchin discussed the company’s improved financial outlook and recent partnership with Costco. Levchin noted that Affirm, a buy-now, pay-later firm, has experienced significant growth, reporting a 36 percent increase in Gross Merchandise Volume (GMV), marking its third consecutive quarter of acceleration. He stated that, contrary to some market concerns, U.S. consumers remain resilient and continue to spend.

Addressing competition and investor sentiment, Levchin said it is difficult to interpret why some investors may hesitate, but he emphasized the long-term value Affirm brings to both consumers and merchant partners. He explained that Affirm’s collaboration with Costco targets a younger demographic, often more interested in price transparency than traditional credit card rewards. This partnership aims to give Costco members an option to pay over time without late fees, compounding interest, or deferred interest.

Levchin highlighted Affirm’s technology-driven approach, especially its use of artificial intelligence and alternative data for underwriting, while complying with legal standards. He noted that the company’s values, such as transparent pricing and the absence of certain credit card fees, have helped attract millennial and Gen Z customers.

When asked whether economic uncertainty is driving more users to Affirm’s services, Levchin responded that most consumers choose Affirm for clarity and transparency, rather than as a reaction to broader economic conditions. He attributed recent growth in part to the company's increased offering of zero percent interest deals.



Affirm CEO explains company's guidance

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