Recently, a new payment model of "buy first, pay later" (Buy Now, Pay Later) has sprung up in Europe and the United States, among which Affirm, a financial technology company known as the American version of "Huabai", has attracted the most attention.

After US stocks closed on Thursday, September 9, Affirm released its results for the fourth quarter of fiscal year 2021 ended June 30, which showed:

• Q4 revenue of 262 million US dollars, an increase of 71% over the same period last year.

• Q4 posted a net loss of $128 million, compared with a profit of $34.8 million in the same period last year, due to an increase in equity incentive (stock-based compensation) expenses of $105.2 million after the January IPO.

• Total transaction volume (GMV) of Q4 platform was US $2.5 billion, an increase of 106% over the same period last year.

• The number of Q4 active users exceeded 7.1 million, up 97% from the same period last year and 38.9% from the previous month.

• The number of Q4 active merchants reached 29000, an increase of 412% over the same period last year.

In addition, the company has issued strong performance guidance:

Revenue for the first quarter of fiscal 2022 (corresponding to the natural quarter from July 1 to September 30, 2021) is expected to reach $240 million to $250 million, exceeding analysts' expectations of $233.9 million.

After the release of the results, Affim rose more than 20% in after-hours trading, and now American stocks are up more than 23% before trading.

In the American Internet financial market, the business model of pay-after-buy is gradually emerging, and Affirm is one of the leading companies in this industry. This business model allows consumers to pay the cost of shopping in installments, reducing the economic burden.

Founded in 2013 by PayPal Holdings Inc co-founder Max Levchin, Affirm listed on the US stock market in January at $49, but the listing price soared to $90.90 a share, a sign of investor enthusiasm for the company.

There has been a lot of good news for Affirm. Last month, the company announced a major partnership with US e-commerce giant Amazon.Com Inc to become each other's first ever installment partner. In the future, Amazon.Com Inc consumers in the United States, if the amount of goods purchased by Amazon.Com Inc reaches or exceeds 50 US dollars, can use Affirm services to pay in monthly installments. Affirm jumped 46 per cent on the day of the news.

On the analyst conference call, Levchin was asked how the installment payment cooperation with Amazon.Com Inc could be achieved. The boss replied that large US retailers have now realized that the pay-as-you-go model is not just a fashion and a marketing feature. this is a long-term viable model. "they have treated us as a [installment service] provider. "

It is reported that the installment payment cooperation between Affirm and Amazon.Com Inc has been tested on some selected consumers and will be deployed on a larger scale in the coming months. When releasing the financial report, Affirm said that the performance guidelines for the new fiscal year have not yet taken into account the positive impact of the installment cooperation with Amazon.Com Inc on operating income and commodity trading scale.

Prior to this, Fu Tu Information wasThe strong rise of the American version of "Hua Bai", analyst: the outbreak has just begun.It is mentioned that the "buy first and pay later" payment model meets the needs of customers at both ends of B and C, and is becoming one of the development trends of the e-commerce market in Europe and the United States. Bank of America Corporation estimates that the boom in e-commerce could lead to a 10-to 15-fold growth in the BNPL consumer market by 2025, with a total transaction volume of $1,000bn. As one of the leading players of "buy first and pay later", Affirm deserves investors' long-term attention.