Affirm Card GMV +115% as It Teams Up With Costco
Hey Payments Fanatic!
Affirm closed its fiscal third quarter with numbers that show a business stretching across more corners of consumer spending. The company’s Gross Merchandise Value (GMV) climbed 36% YoY to $8.6 billion, with 1.8 million new consumers transacting on the platform. Its Affirm Card stood out, GMV surged 115%, reaching $807 million with 2 million active cardholders.
While revenue matched GMV growth at 36%, totaling $783 million, the market reacted cautiously. Shares slipped 8% as the company’s guidance pointed to a slight deceleration ahead, with expected Q4 revenue landing between $815 – $845 million. Max Levchin, Affirm’s CEO, addressed the balance between risk and resilience: “Strategically, we believe we have all the tools necessary to manage our business effectively in any macroeconomic environment.”
Beyond the quarterly figures, Affirm announced a new partnership with Costco. Approved customers shopping online will be able to select Affirm’s monthly payment plans at checkout. Levchin called the collaboration a privilege, noting Costco’s “unwavering commitment to customer experience and transparency.”
The platform now counts 21.9 million active users, with merchant partnerships growing 20% to 358,000. Recent months also brought agreements across sectors such as travel and fashion, broadening the ways consumers access pay-over-time options amid shifting spending habits.
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