Affirm, a leading Buy Now, Pay Later (BNPL) provider, has announced an expanded partnership with Adyen, a global financial technology platform. This strategic collaboration makes Affirm the first BNPL provider to integrate with Adyen for Platforms, an end-to-end payment solution catering to platform businesses such as peer-to-peer marketplaces, on-demand services, and crowdfunding platforms. The partnership also extends Affirm’s flexible payment solutions to Adyen merchants in Canada, broadening its geographic footprint.
The partnership, which began in 2020, initially enabled Affirm to provide BNPL services to eligible Adyen merchants in the United States, both online and in-store. Under the expanded agreement, Canadian merchants and businesses using Adyen for Platforms will now gain access to Affirm’s customizable payment options, including biweekly payments and monthly installment plans ranging from six weeks to 36 months. Affirm stands out in the BNPL sector by offering transparency and no hidden fees, with annual percentage rates as low as 0%.
Since its inception, the Affirm-Adyen collaboration has experienced robust growth, with average annual transaction volumes increasing more than sevenfold between 2021 and 2023. This momentum highlights the growing consumer demand for flexible payment options and underscores the value of the partnership for merchants.
“Adyen is committed to delivering best-in-class payment experiences that help our global merchants drive growth and better serve their customers,” said Davi Strazza, President of Adyen North America. Strazza emphasized the strategic opportunity to embed financial services into platforms, citing a $185 billion market potential for SaaS platforms identified by Boston Consulting Group.
A case in point is AffiniPay, a leading provider of practice management software and integrated payment solutions. Leveraging Affirm’s Pay Later service integrated with its LawPay platform, AffiniPay has processed over $125 million in payments, significantly enhancing its offerings for legal professionals.
“At AffiniPay, we are relentlessly committed to providing the latest innovative technology to drive outstanding outcomes for our customers,” noted Dru Armstrong, CEO of AffiniPay.
The partnership’s expansion aligns with Affirm’s mission to make transparent and flexible financial solutions accessible to more consumers, merchants, and platforms worldwide. Wayne Pommen, Chief Revenue Officer of Affirm, highlighted the significance of this collaboration:
“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.”
With its seamless integration of BNPL into Adyen’s extensive network, Affirm is poised to further strengthen its position in the rapidly evolving fintech landscape, offering scalable solutions that empower businesses and enhance consumer experiences.
This partnership not only highlights the growing adoption of BNPL services but also sets a benchmark for innovation and collaboration in the global payments ecosystem.
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