Affirm Holdings, a payment network helping merchants drive growth, is expanding its partnership with global fintech platform Adyen, making it the first buy now, pay later (BNPL) provider to support Adyen for Platforms, an end-to-end payment solution for platform businesses.
Affirm will become available to customers of Adyen for Platforms, while Adyen merchants in Canada will access a wider range of Affirm’s offerings, delivering monthly instalments alongside the existing biweekly payment option.
Originally established in November 2020, the partnership between Affirm and Adyen began by making Affirm available to eligible Adyen merchants in the US, online and in-store through Adyen’s physical payment terminals.
Davi Strazza, president of Adyen North America
“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,” explained Davi Strazza, president of Adyen North America.
“The opportunity for platforms to embed payments and financial services is incredible – a game-changing $185billion market opportunity for SaaS platforms, according to our research with Boston Consulting Group. Together with Affirm, we’re unlocking greater flexibility for consumers across the US and Canada.”
With Affirm, approved consumers can choose from a range of customised payment plans, ranging from six weeks to 36 months, with no hidden or late fees.
Meeting customer expectations
Since integrating with Affirm, AffiniPay, an Adyen partner and provider of practice management software, integrated payments and embedded fintech for professionals, has processed over $125million in payments with Pay Later, its legal fee financing solution.
“At AffiniPay, we are relentlessly committed to providing the latest innovative technology to drive outstanding outcomes for our customers,” commented Dru Armstrong, CEO of AffiniPay. “By partnering with market leaders like Adyen and Affirm, we are able to continuously exceed expectations for our customers.”
“Adyen has built a powerful platform to help businesses drive growth all around the world,” added Wayne Pommen, chief revenue officer of Affirm. “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.”
Affirm says that providing its offering at checkout can help businesses drive overall sales, increase average order value, and reach new customers.
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