Confirm Buy Now Pay Later Seller discusses loans and late payments

Young man holding a credit card and using a laptop to shop online.

diy13 | iStock | Getty Images

Americans who shop online after midnight often make riskier transactions and are more likely to default on their loans, according to Affirm's CFO. Michael Linford.

The fintech company uses the hour a consumer attempts a transaction as a key data point to help determine whether or not to be approved for loans, Linford told CNBC in a recent interview. Other factors include the user's payment history along with confirmation and transaction data from the credit bureau Experian.

Leave a Reply

Your email address will not be published. Required fields are marked *