Advertisement

PayPal Co-Founder Launches Mobile Payments Startup

Feb. 28, 2013

One of PayPal’s original founders has launched a new mobile payments startup. Max Levchin this week unveiled Affirm, which will enable online and mobile purchases by essentially extending a digital charge card to users. Affirm will authenticate consumers using Facebook after which it will guarantee payment to merchants and collect from the consumer within 30 days. Levchin said in published reports that Affirm will simplify purchases on mobile devices by reducing the payment process to two taps: one to choose Affirm as the method of payment and another to confirm the order (first-time users must log on to their Facebook account and accept the Affirm application).

The venture is the first from Levchin’s incubator HVF, which he launched after selling his social application company Slide to Google in 2010 for $182 million. The first merchant to launch with Affirm is 1-800-Flowers.



Advertisement


  • CurrentC to Begin Consumer Testing Phase - July 30, 2015
    Current C to Begin Consumer Testing Phase

    MCX, the merchant-backed initiative developing a contactless mobile payment system to compete with Apple Pay and others, this week confirmed a Bloomberg News report that its CurrentC mobile solution is moving from an employee test into a limited pilot test phase with consumers.

  • PayItSimple Launches in UK - July 16, 2015
    PayItSimple Launches in UK

    PayItSimple USA, a company that enables consumers to tap the available credit on their credit cards to enable installment payments online, is launching its service in the U.K.

Advertisement

 

 

Sign Up Today Free

Receive the twice weekly CNP Report and monthly feature articles providing in-depth examinations of global CNP issues.

Please take a moment and register.
* First Name:

* Last Name:

* Password:

* Confirm Pwd:

* Email:

* Category:

Company:

 
Captcha
Answer:

 

 

CNP Archive

Researching companies or people in the CNP industry? Search our past coverage for targeted news and information.

Search here