Afterpay, known as Clearpay in the UK and
Europe, to leverage Adyen's local
acquiring across key markets
SYDNEY, May 9, 2022
/CNW/ -- Adyen (AMS: ADYEN), the global financial technology
platform for leading businesses, today announced it has expanded
upon its partnership with one of the leaders in Buy Now, Pay Later
(BNPL), Afterpay Limited (ASX: APT). Afterpay is working with Adyen
to process payments across key markets including Australia, New
Zealand, Canada,
Europe, U.S., and the U.K. to
support the company's global growth and momentum. Adyen's global
reach and focus on enterprise businesses as an acquirer provides
Afterpay with the capability needed for its fast growing
business.
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 - with more expected to come online. Afterpay, known
as Clearpay in the UK and Europe,
is now available to Adyen merchants in the UK, France, Italy
and Spain.
BNPL payment methods continue to gain global momentum.
Globally, 24% of consumers have used BNPL services, with
adoption highest in Sweden,
Norway, Mexico, France, the USA, and Denmark.
"Holiday season 2021 was the holiday for BNPL - with consumers
using Afterpay to pay responsibly for their holiday gifts," said
Zahir Khoja, General Manager,
Afterpay Global Platform and Partnerships. "Our partnership with
Adyen is allowing us to bring a better way to pay to millions of
shoppers across multiple regions around the world."
"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.
About Adyen
Adyen (AMS: ADYEN) is the financial
technology platform of choice for leading companies. By providing
end-to-end payments capabilities, data-driven insights, and
financial products in a single global solution, Adyen helps
businesses achieve their ambitions faster. With offices around the
world, Adyen works with the likes of Cotton On Group, Nando's,
Freelancer.com, Kogan.com, Budgy Smuggler, Movember, Showpo, Rodd
& Gunn, and Jurlique. The cooperation with Afterpay as
described in this update underlines Adyen's continuous growth with
current and new merchants over the years.
About Afterpay Limited
Afterpay is transforming the
way we pay by allowing customers to buy products immediately and
pay for their purchases over four installments. The service is
completely free1 for customers who pay
on time - helping people spend responsibly. As of December 31, 2021, Afterpay is offered by more
than 122,000 of the world's favorite retailers and more than 19
million active customers have adopted the
service.2
Afterpay is currently available in Australia, Canada, New
Zealand, the United States
and the United Kingdom,
France, Italy and Spain, where it is known as Clearpay. Afterpay
is on a mission to power an economy in which everyone wins.
Afterpay is a wholly owned subsidiary of Block, Inc. (NYSE:
SQ).
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1 Late fees may apply.
Eligibility criteria apply. See afterpay.com for full
terms.
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2 Figures released in
Block Q4 2021 results
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SOURCE Adyen Inc.