Affirm Says Retailers Are Letting It Charge More for Loans

Affirm Inc. has persuaded many of its major retail partners — from Shopify Inc. to Dick’s Sporting Goods Inc. — to let it increase interest rates on the loans it provides their customers.

In conversations with merchants across the US, Affirm is adjusting its original contracts that left it flat-footed as benchmark rates surged in the fight against inflation. While Affirm’s loans haven’t kept pace, that’s starting to change, according to Chief Executive Officer Max Levchin.

Affirm CEO Max Levchin

Photographer: Tony Avelar/Bloomberg

“We are trying to run a profitable company — that’s a conversation that every merchant understands very well,” Levchin said in an ...