Max Levchin, a PayPal founder, is launching a new mobile-payments startup called
Affirm works with another startup,
Affirm will rely on Facebook to authenticate consumers and will use other data to assess risk, the article says. The model more closely resembles a charge card than a credit card, as it requires consumers to pay their bills within roughly 30 days and guarantees payments to merchants based on its assessment that consumers will do so, the article says.
Levchin's startup will be launching with 1800Flowers.com, which was also a launch partner of
"The Affirm payment platform strikes squarely at one of our strategic priorities – driving revenue through our mobile channel," says Amit Shah, vice president of online, mobile and social for 1800Flowers.com, in a statement on Affirm's website. "The Affirm payment experience is simple, and the great results speak for themselves."
After leaving PayPal,
