Affirm debuted a new app encouraging customers to start their shopping journeys with it - Business Insider

that the new app allows consumers to find and shop with the thousands of merchants that have integrated Affirm into their checkout experience as well as "virtually any retailer."Consumers can use the app to view what Affirm will enable them to spend and receive a single-use virtual card to make payments using Affirm's payment plans. The app can also facilitate payments at brick-and-mortar stores that accept Apple Pay or Google Pay.

Creating a shopping destination centered around Affirm's offerings could appeal to both consumers and merchants because it provides greater exposure. For consumers, Affirm's app makes it easier to find locations where they can shop using the POS financing offered by Affirm. of US consumers want to use installment loans for purchases under $250, the app should attract a wide base of consumers for Affirm.

Affirm is trying to encourage consumers to start their shopping journeys with its app — that could boost volume, but only if it succesfully competes against existing online marketplaces, like Amazon: The app gives Affirm the chance to build consumer loyalty to its offerings and secure greater volume as a result. For those consumers who feel strongly about POS financing, and specifically Affirm's offerings, it makes sense to begin a shopping journey in Affirm's app. And if consumers start shopping on the app, it should boost the odds they end up making a purchase through Affirm, increasing its volume.

But Amazon dominates the product search process in the US, so Affirm will need to win consumers away from it to become a serious player in product discovery. A whopping 74% of US consumers report starting their product searches on Amazon when they need a specific product and 66% do so when they're looking for new products, per a

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