Affirm vs Afterpay

Affirm covers plans from four payments every two weeks up to 36 months, and pays merchants by ACH within one to three business days. Afterpay sells one short product, four payments over about six weeks, to US shoppers aged 18 or older. Neither site prints a merchant rate on the pages we read, and Afterpay names its US entity and issuing bank, while Affirm shows Affirm, Inc. without a headquarters or owner. Long-instalment merchants lean to Affirm, small-basket US sellers to Afterpay.

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Both are reviewed in full in our buy now pay later providers ranking: Affirm and Afterpay.

1. 01

   Four payments or thirty-six months

   Affirm describes consumer plans from four interest-free payments every two weeks up to longer instalments of 36 months. Afterpay offers Pay in 4, where the first payment is made upfront and the rest are generally paid over six weeks. The Afterpay pages we read show no longer plan. Retailers with high-ticket goods get a wider choice of terms from Affirm.

   Edge: Affirm

2. 02

   Rate cards that are not there

   Affirm tells merchants to choose a pricing plan as step 2 of sign-up, lists no plans, and its /pricing address returned a 404 page. Afterpay's retailer page says only simple, transparent pricing, with no percentage or fixed amount. The pages we read mention no free trial for Affirm and no order limits for Afterpay. Neither lets a merchant compare cost before contact.

   Depends on the buyer

3. 03

   What the shopper can be charged

   Afterpay says no late fees apply when Pay in 4 is paid on time, though late fees may apply otherwise and no cap is stated. A finance fee may apply to certain transactions. Its example is a $110 loan with a $27.50 down payment, then 3 payments of $28.26 at 36% APR. Affirm's business page gives no shopper fee figure, so Afterpay is the more open of the two.

   Edge: Afterpay

4. 04

   Checkout stacks that are named

   Afterpay names BigCommerce, Cybersource, Magento, Salesforce, Shopify, Square, Shoplazza, Wix and WooCommerce, among others, plus Citcon, Nuvei, PPRO, Stripe and Adyen as processors. Affirm shows logos for Wix, Shopify, WooCommerce, BigCommerce, Magento, Salesforce and Stripe, then links an integrations directory we did not open. A merchant can verify an Afterpay fit directly from the page. Both sides leave smaller platforms to a separate lookup.

   Edge: Afterpay

5. 05

   Settlement and money flow

   Affirm says it pays merchants upfront and in full, with funds sent by ACH transfer to the merchant's bank within 1-3 business days of each transaction. Afterpay's retailer pages we read state no payout timing. Afterpay's card is issued by Sutton Bank, Member FDIC, which concerns shoppers rather than settlement. For cash-flow planning, only Affirm gives a stated schedule. Affirm also states that the funds arrive as one upfront and full payment.

   Edge: Affirm

6. 06

   Who is named at the bottom

   Afterpay shows the United States and names Afterpay US Services, LLC, NMLS ID 1870854, but no headquarters address and no parent company. Affirm's copyright names Affirm, Inc., and its about page names Max Levchin as Founder and CEO. Affirm states no headquarters, founding date or ownership, though its regional sites include Australia, Canada, the United States and the United Kingdom. Neither page gives a registered country.

   Depends on the buyer

Who lets a customer spread a payment over the most time?

Affirm, with plans described up to 36 months. Afterpay's Pay in 4 is generally paid over six weeks. The pages we read show no longer Afterpay option.

Is there a rewards scheme for shoppers on either side?

Afterpay has Pulse Rewards, which is free to join and earns points for eligible on-time payments. The Affirm business page we read mentions no rewards scheme. It does make claims of a 20% repeat purchase rate and 60%+ AOV, which are not verified figures.

Can a shopper outside America use them?

Afterpay's page says users must be 18 or older and a US resident, plus additional criteria. Affirm lists regional sites for Australia, Canada, the United States and the United Kingdom. The pages we read do not show Affirm's eligibility rules.

• Affirm business page: four-payment to 36-month range, step-2 plan choice, the 404 on /pricing, ACH timing, listed platform logos and the 337K merchant claim.
• Affirm about page: Affirm, Inc. in the copyright line and Max Levchin as Founder and CEO.
• Afterpay how it works: six-week schedule, late and finance fee wording, the $110 example, 18+ US rule, Pulse Rewards and Sutton Bank.
• Afterpay for retailers: the transparent pricing line and the named platforms and processors.
• Afterpay merchants page: the entity Afterpay US Services, LLC with NMLS ID 1870854.