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PayPal co-founder Levchin launches new mobile payment start-up

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SAN FRANCISCO (Reuters) – Max Levchin, co-founder of online payment giant PayPal, launched a rival business on Tuesday called Affirm that will compete in the crowded but fast-growing mobile payments business. Affirm’s technology helps shoppers complete online purchases more quickly and easily when they are using smart phones and other mobile devices, according to the firm’s website. . . .

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