“Affirm Inc., a startup from PayPal co-founder Max Levchin, is going after millennials with a new kind of credit card alternative that only exists online,” Julie Verhage reports for Bloomberg. “People can sign up through the website or at checkout on some web stores for financing from Affirm that’s paid off in monthly installments. On Monday, the company said it’s making the micro-lending program available through Apple Pay, letting customers tap their iPhones to pay in brick-and-mortar stores.”

“This essentially makes Affirm a credit card provider without physical cards or credit scores,” Verhage reports. “The San Francisco-based company pitches itself as superior to traditional credit cards from American Express Co. or Visa Inc. because it’s transparent about fees and charges no interest on purchases from more than 150 retailers.”

“After starting PayPal with Peter Thiel two decades ago, Levchin has dabbled in an array of businesses,” Verhage reports. “In 2012, he returned to his roots in financial technology with Affirm. Venture capitalists are willing to follow Levchin where ever he goes. Affirm is backed by more than $700 million from Thiel’s Founders Fund and other investors.”

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MacDailyNews Note: The list of stores where users can buy with Affirm at 0% APR is here.

The Affirm app is available via Apple’s App Store here.