Silicon Valley star and Paypal co-founder, Max Levchin. is leveraging his e-commerce knowledge to launch his newest startup called Affirm.
Affirm is a mobile payment platform, but its USP (unique selling point) compared to Stripe and Square is that it strives to complete the payment process in as few steps as possible. The goal is to completely emulate the desktop one-click buying experience.
The new Levchin payment processor will use Facebook authentication to verify the identity of buyers, which will help guarantee payment to merchants, according to AllThingsD. 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.
Levchin carries a remarkable pedigree in the tech world. After co-founding PayPal and selling for $1.5 billion to eBay in 2002, he launched the social-media company Slide, which was ultimately acquired by Google in 2010. Levchin was also appointed to Yahoo's board in December. Currently he also runs another startup, HVF, which operates in the Big Data space.