Adyen Grows Alliance With BNPL Giant Afterpay

Dutch payments firm Adyen is expanding its collaboration with Australian buy now pay later (BNPL) leader Afterpay to further grow across central markets in Australia, New Zealand, Canada, Europe, US and the UK

The two firms first partnered for local payments in 2018 and several of Adyen’s merchants — including MandM Direct, Revolution Beauty, and Superdry — offer Afterpay’s installment billing as a payments option. Afterpay is known as Clearpay in Europe and is available to Adyen retailers in the UK, France, Italy and Spain, according to a press release on Tuesday (May 10).

See also: Buy Now, Pay Later Provider Ranking Sees Micro-Moves and a Gaggle of Gainers

In PYMNTS’ Provider Ranking of Buy Now, Pay Later Apps, Afterpay moved up in the rankings, leading a pack of gainers in the Top 5, according to the April 29 report. In PYMNTS March report, Afterpay ranked third behind Affirm and Klarna, which continually holds the first place spot.

“Holiday season 2021 was the holiday for BNPL with consumers using Afterpay to pay responsibly for their holiday gifts,” said Zahir Khoja, general manager, Afterpay Global Platform and Partnerships. “Our partnership with Adyen is allowing us to bring a better way to pay to millions of shoppers across multiple regions around the world.”

Globally, 24% of consumers have used BNPL services, with highest adoption in Sweden, Norway, Mexico, France, the US and Denmark, according to the press release.

Read more: Younger Consumers Embracing Mobile Wallets, BNPL

“We are excited to further expand our longstanding partnership with Afterpay to now include local accquiring in key markets. 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,” said Adyen Chief Commercial Officer Roelant Prins.

Founded in 2006, Adyen offers a single solution for end-to-end payments capabilities, data-driven insights, and financial products.

Founded in 2014, Afterpay, a wholly owned subsidiary of Block, offers BNPL over four installments. The service is offered by more than 122,000 retailers and is used by more than 19 million active customers in Australia, Canada, New Zealand, the US, the UK, France, Italy and Spain.

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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORE CARDS – APRIL 2022

About: Shoppers who have store cards use them for 87% of all eligible purchases — but this doesn’t mean retailers should boot buy now, pay later (BNPL) options from checkout. The Truth About BNPL And Store Cards, a PYMNTS and PayPal collaboration, surveys 2,161 consumers to find out why providing both BNPL and store cards are key to helping merchants maximize conversion.

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