Affirm Holdings Inc (NASDAQ:AFRM), a U.S.-based buy now, pay later provider, launched its service in the UK on Monday, marking its first overseas expansion. CEO Max Levchin said Affirm chose the UK due to strong demand from British merchants,

A US buy now, pay later giant run by a co-founder of PayPal has launched in the UK, as its boss sets his sights on the market led by brands like Klarna and ClearPay.Affirm, which was founded in 2012 by Max Levchin,

Affirm’s long-anticipated arrival comes as U.K. lawmakers mull new rules to bring BNPL firms into line with other traditional consumer credit services, though such laws aren’t expected to come into effect until at least 2026 — long enough for Affirm to build traction and curry favor with consumers and regulators alike.

Move comes as British government looks to bring the popular borrowing method under FCA rules

Affirm, the U.S. buy now, pay later firm, on Monday launched its services in the U.K. — its first expansion overseas.