Affirm expands beyond BNPL with cards, wallets, and banking to boost payments and merchant ties

Affirm revealed plans to grow beyond buy now, pay later (BNPL) by expanding its payment ecosystem through cards, digital wallets, and a new industrial bank charter. The company highlighted a 50% increase in transaction frequency per active user, now at 6.7 annually, driven by its closed-loop network and real-time underwriting. Affirm aims to rival major card networks by deepening merchant and consumer engagement using data and AI, while also launching loyalty programs and banking services to diversify funding and boost loan originations. This strategy positions Affirm to become a central player in consumer payments and commerce.