Adyen expands partnership with Afterpay as BNPL payments increase
Global payments platform Adyen has expanded its partnership with AfterPay allowing more of Adyen's merchants in more countries worldwide to use the Buy Now Pay Later (BNPL) provider.
Adyen merchants such as MandM Direct, Revolution Beauty, and Superdry already offer Afterpay to customers. The global partnership will also see Afterpay's service made available to Adyen merchants in the UK, France, Italy and Spain. The service is known as Clearpay in the UK and Europe.
Afterpay is working with Adyen to process payments across key markets, including Australia, New Zealand, Canada, Europe, the US, and the UK to support the company's global growth and momentum.
Adyen says its global reach and focuses on enterprise businesses as an acquirer provides Afterpay with the capability needed for its fast-growing business.
This comes as consumer and merchant appetite for BNPL payment methods continues to gain global momentum, with usage in Australia increasing by 120 per cent since the beginning of the pandemic.
Globally, 24% of consumers have used BNPL services, with adoption highest in Sweden, Norway, Mexico, France, the USA, and Denmark.
Afterpay global platform and partnerships general manager Zahir Khoja says the holiday season 2021 was the holiday for BNPL, with consumers using Afterpay to pay for their holiday gifts.
"Our partnership with Adyen is allowing us to bring a better way to pay to millions of shoppers across multiple regions around the world," he says.
Adyen chief commercial officer Roelant Prins says the company is excited to continue to expand its longstanding partnership with Afterpay.
"Afterpay is already a household name globally and we are proud to be able to continue to come together, leveraging both our technology and innovation to meet the needs of today's evolving retail landscape," he says.
Adyen and Afterpay began their local payment method partnership in 2018.
Adyen says it's the financial technology platform of choice for leading companies.
It provides end-to-end payments capabilities, data-driven insights, and financial products in a single global solution.
Adyen has offices worldwide and works with the likes of Cotton On Group, Nando's, Freelancer.com, Kogan.com, Budgy Smuggler, Movember, Showpo, Rodd - Gunn, and Jurlique.
The company says this partnership with Afterpay underlines Adyen's continuous growth with current and new merchants over the years.
Afterpay allows customers to buy products immediately and pay for their purchases over four instalments.
The service is completely free for customers who pay on time - helping people spend responsibly.
As of December 31, 2021, Afterpay is offered by more than 122,000 of the world's favourite retailers and more than 19 million active customers have adopted the service.
It's currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, France, Italy and Spain, where it is known as Clearpay.
