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Affirm has expanded its collaboration with fintech firm Adyen by providing Buy Now, Pay Later (BNPL) option to Adyen for Platforms, an integrated payment solution designed for platform businesses.
Since its inception in November 2020, the partnership has allowed eligible Adyen merchants in the US to offer Affirm's BNPL options both online and in-store.
The enhanced agreement extends these services to Adyen for Platforms customers, which encompasses peer-to-peer marketplaces, on-demand services, and crowdfunding platforms.
This extended alliance also offers more payment options for Adyen merchants in Canada.
Merchants in Canada will benefit from Affirm's payment plans, including monthly instalment options in addition to the existing biweekly payments.
Affirm is offering customised payment plans, ranging from six weeks to 36 months, with rates 0% APR, and no late or hidden fees.
The partnership is claimed to report an average annual volume growth of more than sevenfold from 2021 to 2023.
AffiniPay, a partner of Adyen that specialises in practice management software and integrated payments for professionals, has processed over $125m through Pay Later, their legal fee financing solution LawPay, powered by Affirm.
Adyen North America president Davi Strazza stated: “Adyen is committed to delivering best-in-class payment experiences that help our global merchants drive growth and better serve their customers. That is why we’re excited to expand our partnership with Affirm, enabling Adyen for Platforms customers to offer this payment method.”
Affirm chief revenue officer Wayne Pommen said: "Adyen has built a powerful platform to help businesses drive growth all around the world. Deepening our partnership with Adyen — and continuing to build out an unparalleled network of payment partners – will further expand Affirm’s reach so that more consumers, merchants and platforms can benefit from our honest financial products.”
Last month, Affirm launched its pay-over-time options in the UK.
"Affirm extends BNPL partnership with Adyen " was originally created and published by Electronic Payments International, a GlobalData owned brand.
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