Affirm has announced an expanded partnership with Adyen, the global financial technology platform. The collaboration makes Affirm the first Buy Now, Pay Later (BNPL) provider to support Adyen for Platforms, an end-to-end payment solution designed for platform businesses. This development also brings Affirm’s payment options to Adyen merchants in Canada.
The partnership, which began in November 2020, initially enabled Affirm to serve eligible Adyen merchants in the United States both online and through in-store payment terminals. With the expanded agreement, Affirm’s BNPL services will now be available to customers of Adyen for Platforms, including peer-to-peer marketplaces, on-demand services, and crowdfunding platforms. Canadian merchants working with Adyen will also gain access to Affirm’s flexible payment options, including monthly installment plans alongside existing biweekly payment offerings.
Affirm offers approved consumers the ability to select customized payment plans ranging from six weeks to 36 months, with annual percentage rates as low as 0%. The company emphasizes transparency, ensuring that customers will not encounter late or hidden fees.
The Affirm-Adyen partnership has seen substantial growth since its inception, with average annual transaction volumes increasing more than sevenfold between 2021 and 2023.
“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. He added that the partnership represents a significant opportunity to embed financial services, citing a $185 billion market potential for SaaS platforms as identified by Boston Consulting Group.
One example of the partnership’s impact is AffiniPay, a provider of practice management software and integrated payment solutions. AffiniPay has processed over $125 million in payments through its Pay Later service, powered by Affirm and integrated with its legal payments platform, LawPay.
“At AffiniPay, we are relentlessly committed to providing the latest innovative technology to drive outstanding outcomes for our customers,” said Dru Armstrong, CEO of AffiniPay.
Wayne Pommen, Affirm’s Chief Revenue Officer, emphasized the benefits of the 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,” Pommen stated.
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