Focus: Buy now, pay later lender Affirm pushes into elective medical procedures
April 23 (Reuters) – Fintech lender Affirm (AFRM.O), opens new tab has started quietly offering “buy now, pay later” (BNPL) loans for elective medical procedures, in a major push beyond its core e-commerce market, the company told Reuters.
Over the past year, Affirm has more than doubled the number of elective medical merchants on its network, reaching around 130 at of the end of 2023. The San Francisco-based company is hoping to tap growing consumer demand for financing for cosmetic treatments, dental services, medical devices and veterinary procedures.
“A lot of these price points are about $2,000 and above, so that suits our installment product… really well,” Pat Suh, Affirm’s senior vice president of revenue, said in an interview.