At Experian, we have long championed the use of expanded data sources, including buy now, pay later information, to empower consumers while enabling lenders to make more informed decisions. However, concerns about the negative impact on consumer credit scores have historically prevented many buy now, pay later providers from reporting account information to credit reporting agencies.
In an important step towards overcoming these challenges and supporting responsible lending, today, Affirm, one of the largest providers of pay-over-time loans, announced it is expanding its credit reporting with Experian.
Greater transparency in buy now, pay later activity is key to helping consumers build their credit histories and supporting responsible lending.
Scott Brown, Group President, Financial Services, Experian North America
Affirm plans to report all pay-over-time loan products issued from April 1, 2025, and beyond, including Pay-in-4. The move will help drive greater transparency into the buy now, pay later market while helping consumers build their credit histories over time.
“Affirm operates on the principles of transparency and putting consumers first, which is why we have been actively engaged with Experian and across our industry to build upon our credit reporting practices,” said Libor Michalek, President at Affirm. “Having all loans reflected in a consumer’s financial profile will help protect and empower borrowers. The buy now, pay later industry must evolve from simply providing flexible payment options to helping consumers build their credit histories and better manage their finances, and we are pleased to be taking this step with Experian.”
Experian is committed to driving transparency in the BNPL industry without inadvertently negatively impacting consumers. Given this, the new loan reporting will not be factored into consumers’ traditional credit scores in the near term but may in the future as new credit scoring models are developed.
With the new furnishing policy, consumers will be able to see on their Experian credit file information on all Affirm loans issued from April 1, 2025 onward. Consumers can receive an updated version of their Experian credit report at no cost daily by enrolling in a free membership and visiting www.experian.com or via Experian’s mobile app.
“Greater transparency in buy now, pay later activity is key to helping consumers build their credit histories and supporting responsible lending,” said Scott Brown, Group President, Financial Services, Experian North America. “We have a longstanding history working with Affirm and applaud them for expanding the reporting of their pay-over-time products. This is the right thing to do for consumers, the industry and the economy at large. Our role as the first credit reporting agency to establish this partnership with Affirm underscores our shared commitment to improve consumer financial health and foster more informed lending decisions.”
As BNPL information is reported to Experian by additional BNPL providers, a consumer’s BNPL history will be visible to lenders who request to view it as part of an Experian credit report–enabling lenders to make more informed decisions when determining whether to extend credit offers.
We look forward to working with other leading BNPL providers to drive greater transparency in the BNPL space that will benefit lenders and consumers alike.
At Experian, we have long championed the use of expanded data sources, including buy now, pay later information, to empower consumers while enabling lenders to make more informed decisions. However, concerns about the negative impact on consumer credit scores have historically prevented many buy now, pay later providers from reporting account information to credit reporting agencies. In an important step towards overcoming these challenges and supporting responsible lending, today, Affirm, one of the largest providers of pay-over-time loans, announced it is expanding its credit reporting with Experian. Greater transparency in buy now, pay later activity is key to helping consumers build their credit histories and supporting responsible lending.Scott Brown, Group President, Financial Services, Experian North America Affirm plans to report all pay-over-time loan products issued from April 1, 2025, and beyond, including Pay-in-4. The move will help drive greater transparency into the buy now, pay later market while helping consumers build their credit histories over time. “Affirm operates on the principles of transparency and putting consumers first, which is why we have been actively engaged with Experian and across our industry to build upon our credit reporting practices,” said Libor Michalek, President at Affirm. “Having all loans reflected in a consumer’s financial profile will help protect and empower borrowers. The buy now, pay later industry must evolve from simply providing flexible payment options to helping consumers build their credit histories and better manage their finances, and we are pleased to be taking this step with Experian.” Experian is committed to driving transparency in the BNPL industry without inadvertently negatively impacting consumers. Given this, the new loan reporting will not be factored into consumers’ traditional credit scores in the near term but may in the future as new credit scoring models are developed. With the new furnishing policy, consumers will be able to see on their Experian credit file information on all Affirm loans issued from April 1, 2025 onward. Consumers can receive an updated version of their Experian credit report at no cost daily by enrolling in a free membership and visiting www.experian.com or via Experian’s mobile app. “Greater transparency in buy now, pay later activity is key to helping consumers build their credit histories and supporting responsible lending,” said Scott Brown, Group President, Financial Services, Experian North America. “We have a longstanding history working with Affirm and applaud them for expanding the reporting of their pay-over-time products. This is the right thing to do for consumers, the industry and the economy at large. Our role as the first credit reporting agency to establish this partnership with Affirm underscores our shared commitment to improve consumer financial health and foster more informed lending decisions.” As BNPL information is reported to Experian by additional BNPL providers, a consumer’s BNPL history will be visible to lenders who request to view it as part of an Experian credit report–enabling lenders to make more informed decisions when determining whether to extend credit offers. We look forward to working with other leading BNPL providers to drive greater transparency in the BNPL space that will benefit lenders and consumers alike. Related Posts
As a father to two young adults, I know how important it is to educate each other on financial health and the tools available to us to improve access and opportunity. I believe strongly in the transformative impact of financial empowerment, and so does Experian. Our mission of Financial Power to All™ inspires us to create products and opportunities that help individuals achieve their financial goals. Consumer debt is at an all-time high, according to the New York Federal Reserve which reported that total household debt increased by $93 billion in the fourth quarter of 2024 to $18.04 trillion. Debt can be a significant barrier to financial stability and success, limiting opportunities, creating stress, and hindering individuals from reaching their full potential. Recognizing these challenges, Experian is partnering with ForgiveCo, a Public Benefit Corporation (PBC), to manage the acquisition and cancellation of $5 million dollars in qualifying consumer debt for over 5,000 families in Louisiana, one of the poorest states in the United States. Having spent my childhood summers in Louisiana, I have personally seen the impact debt can have on families. Breaking down one of the barriers to financial empowerment is one of the reasons this program is so important to me. As part of the program, we are excited to be teaming up with Louisiana State University (LSU) star athlete Flau’Jae Johnson to reach more consumers and make a bigger impact with this program, forgiving an additional $100K for every LSU women’s basketball win during the college basketball tournament. A star athlete with NIL deals, she knows the importance of managing finances and has a passion for reaching young adults with financial empowerment messages. She has been involved in other programs with us and is a great partner. This is just one of many initiatives to help consumers and our commitment to financial empowerment extends beyond debt relief. We evolve our educational resources and products to better support the millions of members we serve, as well as underserved communities. Some of our other activities include the creation of the B.A.L.L. for Life™ initiative that connects African American and Hispanic youth with financial education, supporting scholarships for Asian Americans through the Ascend organization, providing custom resources for Out & Equal and Born This Way Foundation for the LGBTQ+ community, supporting the NextGen Innovation Lab for Disability:IN, and sponsoring credit counseling for the military community with Operation HOPE. To learn more, visit our website or hear directly from Flau’Jae below. Related Posts
Anniversary Showcases Groundbreaking Innovations for Businesses and Consumers This year marks a major milestone for Experian as its Innovation Lab in North America celebrates 15 years of driving technological transformation. Over the past decade and a half, the Lab has been at the forefront of data and AI-driven solutions, helping our clients reshape industries and expanding financial inclusivity. A Legacy of Innovation The Experian Innovation Lab has played a critical role in advancing AI-driven credit risk models, fraud detection systems and no- and low-code AI tools. A groundbreaking achievement is the development of the Ascend Analytical Sandbox™, the industry’s first Big Data architecture-based commercial product. This tool evolved into the Experian Ascend Platform™, revolutionizing data analysis with advanced visualization, seamless model development and deeper consumer insights. The Lab’s commitment to innovation is exemplified by its work to help develop Experian Assistant, a Generative AI-powered tool using natural language processing to expedite model development and address complex data challenges. By incorporating agentic AI, Experian Assistant enhances credit scoring accuracy for a broader consumer base for financial services clients—aligning with Experian’s mission to foster financial inclusion. Transformative Technological Milestones Throughout its 15-year journey, the Experian Innovation Lab has worked on numerous industry-first advancements, including: AI-Driven Marketing & Fraud Detection – Leveraging AI for personalized marketing and real-time fraud detection. Machine Learning for Identity Resolution – Enhancing security and efficiency in identity verification. Generative AI for Consumer Products – Transforming how individuals manage credit and make informed financial decisions. Shaping the Future of AI and Data Science At its core, the Innovation Lab thrives on exploration and collaboration. Engaging leadership and fostering grassroots innovation accelerates progress through prototyping and employee-driven ideas. This dynamic approach ensures Experian remains a leader in AI, machine learning and data analytics. The Lab’s success has inspired additional innovation centers in the UK and Brazil, further amplifying Experian’s global impact. AI for Good: Innovation with Purpose Beyond financial services, the Lab has harnessed AI for societal impact. The Experian COVID-19 Outlook and Response Evaluator (CORE), an interactive heat map, helped healthcare organizations identify communities most at risk. By analyzing de-identified health data, this tool helped provide insights for pandemic response. Additionally, the Lab has used AI to analyze data and generate insights to help combat human trafficking, underscoring Experian’s dedication to addressing social challenges. As the Experian Innovation Lab enters its next chapter, it remains committed to pushing the boundaries of technology and data science, ensuring its innovations continue making a meaningful impact. Related Posts