Most American consumers have credit card debt in some form, with the total across those consumers at an alarming $1.03T. A new subset of the debt market that has been growing over the years is the buy now pay later model, that is projected to grow to $167B market by 2032. Though it may seem familiar to those that remember retail layaway programs, the model offers another way for consumers and merchants to transact, without the common credit card interest rates charged across monthly statement balances.

One of the biggest of these rapidly growing platform companies is Affirm, Inc. Similar to Afterpay and Klarna, Affirm has over 50 million consumers on its platform that have generated $60 Billion in merchandise value through nearly 300,000 partners from the largest retailers and travel companies to the smallest online stores on the Internet.

We invited Libor Michalek, Affirms President and board member to this episode of The Reboot Chronicles to give us a behind the scenes look at this sector, with insights into what helped Affirm take-off, and what’s coming next.

---

Send in a voice message: https://podcasters.spotify.com/pod/show/rebootchronicles/message