Affirm co-founder and CEO Max Levchin argues consumers need more access to credit and purchasing power amid decades-high inflation and the Fed's rate hikes.
Affirm co-founder and CEO Max Levchin argues people need more access to credit in an inflationary environment.is expecting consumer demand for their services to grow even while facing decades-high inflation and the Federal Reserve’s aggressive rate hikes.
"There's more demand for this product as rates go up, and we look that much better than credit cards, because, of course, that also goes right to the consumer's wallet," Levchin said.The technology company offers services permitting shoppers to purchase items now, but pay only a fraction of the cost with an accompanying installment plan. Affirm works with more than 60% of e-commerce brands in the U.S.
Levchin claimed "deep, diverse relationships" with investors and funding partners will help the company’s success moving forward"We feel very good about our ability to weather whatever new rate hikes that come our way," Levchin said. "But of course, over time, all of these things filter through."
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