Affirm pilots 0% APR rent payment split into biweekly installments
Affirm is piloting a zero-fee rent payment program with Esusu that splits monthly rent into two biweekly installments at 0% APR and reports timely payments to credit bureaus. The program underwrites each application individually, charges no hidden or late fees, and is still in an early-stage pilot phase.
1. Affirm Pilots Zero-Fee Biweekly Rent Payment Program
Affirm has launched a pilot program in partnership with fintech platform Esusu that enables eligible renters to split their monthly rent into two equal biweekly payments at 0% APR. The program carries no hidden or late fees and does not compound interest. Esusu will report on-time rent payments to major credit bureaus, helping participants build credit histories. Affirm underwrites each application individually and approves only the amount it deems a renter can responsibly repay. The company has not disclosed an official rollout date as the pilot remains in early stages.
2. Affirm Reaches Profitability Milestones and Projects Continued GMV Expansion
Affirm recently reported its first profitable quarter on a GAAP basis, posting operating income of $63.7 million, following a reduction in operating loss from $1.2 billion in 2023 to $87 million last year. Its gross merchandise volume (GMV) grew from $20.2 billion in 2023 to $36.7 billion in 2024, driven by no-interest BNPL loans and partnerships with major e-commerce platforms and digital wallets. The company forecasts GMV of $47.5 billion for its fiscal year 2026 and targets operating margins of 7.5%, positioning itself to capitalize on rising BNPL adoption among younger consumers shifting away from traditional credit cards.