Adyen expands partnership with Afterpay for local acquiring

E-commerce payments giant Adyen has expanded its partnership with Buy Now Pay Later (BNPL) provider Afterpay to include local acquiring in key markets including the UK and Europe.

As a result of the move, Afterpay, which is known as Clearpay in UK and European markets, will be able to process payments for Adyen’s retail clients in the UK, Europe, Australia, New Zealand, Canada, and the US.

The extension of Adyen’s long standing partnership with Afterpay will support the BNPL company’s global growth targets.

Adyen’s global reach and focus on enterprise businesses as an acquirer provides Afterpay with the capability needed for its fast growing business, the companies said.

Adyen and Afterpay began their local payment method partnership in 2018.

A number of Adyen’s merchants already offer Afterpay’s installment payments - including MandM Direct, Revolution Beauty, and Superdry.

Afterpay (and Clearpay) services are now available to Adyen merchants in the UK, France, Italy and Spain.

BNPL payment methods continue to gain global momentum. Globally, 24 per cent of consumers have used BNPL services, with adoption highest in Sweden, Norway, Mexico, France, the USA, and Denmark, according to research from Adyen and KPMG.

Commenting on the move, Zahir Khoja, general manager, Afterpay global platform and partnerships, said: “Holiday season 2021 was the holiday for BNPL - with consumers using Afterpay to pay responsibly 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.”

Roelant Prins, chief commercial officer at Adyen, said: “We are excited to further expand our longstanding partnership with Afterpay to now include local acquiring 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.”

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