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PayPal co-founder Max Levchin is out to disrupt payments once again, announcing the launch of his new mobile payment company Affirm. The startup will offer consumers a mobile charge card that Levchin said will make online payments simple.
AllThingsD's Kara Swisher first reported on Levchin's new venture. According to her report, Levchin said Affirm is intended to be a "digital tab" that will combine a log-in through Facebook, back-end processing by Stripe and a number of other features to guarantee that the payor is who he says he is and is good for the bill.
The intent of Affirm is the same as many other digital wallets entering the space: make mobile commerce easier and lower shopping cart abandonment on mobile devices.
Levchin told Swisher the company has been funded in the low-digit millions. Affirm is the first company out of Levchin's incubator, Hard, Valuable, Fun.
Levchin co-founded PayPal in 1998 and served as its CTO after it was acquired by eBay in 2002. He left PayPal to form media-sharing site Slide which was acquired by Google in 2007. He was with Google until 2011.
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Topics: Mobile/Digital Wallet