Affirm CEO Max Levchin on Friday touted the company’s new physical debt card offering, telling CNBC he believes it will offer shoppers benefits similar to those of a credit card but with more upfront clarity.
“It should not be called a credit card, for sure, in part because it’s sort of the anti-credit card. I don’t mean to be provocative,” Levchin said on “Closing Bell,” criticizing what he sees as a lack of transparency around credit card interest payments and late fees.
“Literally every single one of these things is the exact opposite for Affirm’s card,” Levchin added. “You know exactly what you’re going to pay. You know exactly what the schedule for payment is and there will be no late…