Global payments platform for leading businesses, Adyen has expanded its partnership with Buy Now, Pay Later (BNPL) group, Afterpay.
The partnership will see Afterpay 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’s global reach and focus on enterprise businesses as an acquirer provides Afterpay with the capability needed for its fast-growing business.
Adyen and Afterpay began their local payment method partnership in 2018. A number of Adyen’s merchants already offer Afterpay’s instalment with more expected to come online.
Consumer and merchant appetite for BNPL payment methods continues to gain global momentum, with usage in Australia increasing by 120% since the beginning of the pandemic. Globally, an estimated 24% of consumers have used BNPL services, with adoption highest in Sweden, Norway, Mexico, France, the US and Denmark.
“Holiday season 2021 was the holiday for BNPL, with consumers using Afterpay to pay responsibly for their holiday gifts,” Afterpay global platform and partnerships general manager, Zahir Khoja said.
According to Adyen chief commercial officer Roelant Prins, the company is excited to further expand its longstanding partnership with Afterpay. “It now includes local acquiring in key markets leveraging both our technology and innovation to meet the needs of today’s evolving retail landscape,” he said.