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"PayPal co-founder Max Levchin has announced his return to the online payment business with the launch of Affirm. The transactions system will use Facebook to verify users&amp;#039; identity and a range of social and location-based data to calculate whether they are entitled to credit.  Affirm has been likened to a credit card service, giving users 30 days to pay off their balance before interest fees are charged. &amp;quot;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,&amp;quot; Levchin told AllThingsD. Affirm users can pay off their balance using credit cards, bank transfers or cheque payments. PayPal is currently not listed as a payment method. Affirm is currently in beta with flower seller 1-800-Flowers as its partner. "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.digitalspy.com/tech/computing/news/a462103/paypal-founder-max-levchin-launches-rival-service-affirm/>