Is Affirm the Next PayPal?
Affirm Holdings (NASDAQ: AFRM), which trades on one of retailing's oldest concepts -- buy now, pay later (BNPL) -- recently held a presentation where it unveiled products that will expand its reach in the consumer-finance market. The bigger message, though, is that Affirm may have the ambition and potential to become more than just a purveyor of BNPL services.
Affirm's business is financial technology at heart, which might remind investors of a larger, more established fintech company, PayPal Holdings. Here are three reasons Affirm could eventually grow to become a giant fintech stock.
Affirm's growth will depend on how it can expand the network of partner merchants and the number of consumers who shop through its platform. In other words, Affirm needs to deeply penetrate the retail landscape.
Source Fool.com
