PayPal co-founder starts new ecommerce start up

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PayPal co founder Max Levchin if well known for all of his start ups, and there have been a few. We people put our experience in the form of programming languages known or platforms in which we have worked, but this guy just puts a list of companies that he has co founded. There are so many of them. And according to a new report, the Max Levchin has started a new company called Affirm.

Max Levchin has put in all the knowledge he got from his PayPal experience to this new company to make ecommerce successful. And yes, this is also an ecommerce company. The company focuses on bringing down the mobile payments to just one click, like we do on our computers.

“We are trying to get as close as possible to one-click, which has always been the case on the desktop,” Levchin told All Things D. “In mobile, it has become an imperative to be able to buy it now or you lose a customer quickly.”

Affirm is said to work by authenticating buyers with their Facebook accounts. The service also guarantees the payment delivery to the merchants. CNET writes, “It might also verify buyers by using Zip Code income ranges and people’s mobile device IDs. The startup’s beta launch partner is 1-800-Flowers.”

“You will essentially be putting a purchase on a digital tab, and we are going to make it work for us by looking at all available data to determine if you are someone who will pay it back,” Levchin told All Things  D. This could be the next big thing, but it is going to take some time as the users need time to trust this new service which is going to route their money, and that is no job for a stranger. Max Levchin may soon make a few more million dollars, we know that he has spent some on this new company which he has started up with his friends.

Source: CNET

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