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FirstCash to buy fintech AFF in US$1.17 billion deal to enter BNPL market

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Pawn store operator FirstCash Inc said on Thursday it will acquire financial technology firm American First Finance Inc (AFF) in a US$1.17 billion deal, to enter the buy-now-pay-later business. FirstCash is also looking to expand its footprint in the retail point-of-sale (POS) payments market, where AFF c

Pawn store operator FirstCash Inc said on Thursday it will acquire financial technology firm American First Finance Inc in a US$1.17 billion deal, to enter the buy-now-pay-later business.

AFF, founded in 2013, is a technology driven POS payments platform which offers consumers payment flexibility across marketplaces with its"no credit required" options. The cash-and-stock deal will also help FirstCash introduce flexible payment solutions in its pawn stores, it said.

 

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