Global fintech platform Adyen has expanded its partnership with Buy Now, Pay Later (BNPL) provider Affirm to the UK.
Merchants across the UK will now be able to integrate Affirm’s installment-based payment methods at the checkout when using Adyen. This is in a bid to drive merchant growth for its customers at the checkout.
Affirm pay-over-time plans can be accessible at the checkout and offer customers interest-free and interest-bearing instalment options. These offerings can also be customisable to suit the customers needs and do not incur hidden or late fees.
“Adyen customers all over the globe are demanding best-in-class payment experiences to boost business and drive customer engagement, which is why we are expanding our partnership with Affirm into the UK,” said Nicole Olbe, Adyen UK Managing Director.
“We’ve seen how Affirm’s consumer-first payment options accelerate growth for our US and Canadian merchants and help them meet customers’ individual needs at checkout. We’re excited to unlock greater opportunities for UK merchants, and greater flexibility for consumers, together with Affirm.”
Adyen and Affirm’s partnership began in November 2020, where it began to roll out BNPL payment options to US merchants via their websites and in-store through Adyen payment terminals.
Over time, the partnership experienced growth across the US, eventually expanding across the border over to Canada.
Adyen and Affirm revealed that between 2021 to 2023, it saw an increase in average annual volume for its BNPL offering, a trend that aligns with the surge of consumer interest for the instalment-based payment offering as it enables customers more flexibility at the checkout.
Ruth Spratt, VP and UK Country Manager at Affirm, added: “Businesses across many sectors in the UK rely on Adyen to drive growth; now they can benefit by offering Affirm’s more flexible, transparent, and long-term pay-over-time options to their customers.
“By deepening our partnership with Adyen, we look forward to helping more merchants to grow their business, and more consumers pay over time on a schedule that works best for them, and always without any late or hidden fees.”
Adyen’s commitment to the BNPL sector is evident in not just its partnership with Affirm, but also with Klarna. The two payment firms have been partners for the past two years, offering in-store payment terminals that provide BNPL capabilities.
