Adyen, the global financial technology platform, has expanded its partnership with Afterpay, a leading Buy Now, Pay Later (BNPL) provider. The expanded partnership will allow Afterpay to process payments through Adyen's global network, which includes over 200 markets.
This is a significant development for both companies. For Adyen, it is an opportunity to tap into the growing popularity of BNPL, which is a payment method that allows consumers to buy goods or services now and pay for them in instalments over time. For Afterpay, it is a chance to expand its reach into new markets and grow its customer base.
“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,” said Roelant Prins, Chief Commercial Officer, Adyen.
The expanded partnership will also benefit merchants. By offering BNPL as a payment option, more merchants can attract more customers and increase sales. In addition, Buy Now Pay Later can help merchants reduce fraud and chargebacks.
The global BNPL market is expected to reach $1 trillion by 2025. With this expanded partnership, Adyen and Afterpay are well-positioned to capture a significant share of this growing market.
The expanded partnership between Adyen and Afterpay is a significant development for both companies. It is a sign of the growing popularity of BNPL and the potential of this payment method to transform the way we shop.
How to implement Afterpay via Adyen
To implement Afterpay via Adyen, businesses need to:
- Create an account with Adyen.
- Apply for Afterpay.
- Integrate the Afterpay payment method into their checkout.
Once you have created an account with Adyen and applied for Afterpay, you will be able to integrate Afterpay payment method into your checkout. This can be done by following the instructions the below instructions
Here are the steps on how to integrate Afterpay payment method into your checkout:
- Go to your Adyen dashboard and click on "Payment Methods."
- Click on "Add Payment Method" and select "Afterpay."
- Follow the instructions to create an Afterpay account and integrate the payment method into your checkout.
Once the Afterpay payment method has been integrated into your checkout, customers will be able to select it as a payment option when they are checking out. Afterpay allows customers to pay for their purchases in four equal instalments, due every two weeks. There are no interest or late fees associated with Afterpay.
Offering Afterpay as a payment option can help merchants attract more customers and increase sales. Afterpay is a popular payment method, especially among millennials and Gen Z consumers. Offering Afterpay can also help merchants reduce fraud and chargebacks.
Benefits of BNPL for Merchants
- Attract more customers: Afterpay is a popular payment method, especially among millennials and Gen Z consumers. Offering Afterpay can help merchants attract more customers and increase sales.
- Increase sales: Afterpay can help merchants increase sales by making it easier for customers to buy their products.
- Reduce fraud and chargebacks: Afterpay has a low fraud rate, which can help merchants reduce fraud and chargebacks.
- Improve customer satisfaction: Afterpay can improve customer satisfaction by providing a convenient and flexible payment option.
If you are a merchant and you are looking for a way to attract more customers, increase sales, and improve customer satisfaction, then you should consider offering Afterpay as a payment option.
