Payments

Afterpay teams up with Adyen to offer alternative payments

The partnership will offer Afterpay’s buy now, pay later service to retailers

Buy now, pay later giant Afterpay and global payments platform Adyen are teaming up to offer Afterpay’s buy now, pay later service to retailers.

British footwear brand Hunter is one of the first retailers to offer Afterpay with Adyen, according to a news release.

Afterpay’s service allows customers to purchase their items and pay in four installments without taking out a loan or paying upfront fees or interest. Afterpay, which is based in Australia, has over 13 million U.S. customers and almost two million consumers in the U.K.

“BNPL has changed the retail industry – as young shoppers prefer to use their own money to buy items they need and want – instead of using credit cards which often lead to revolving debt with interest and fees,” Ben Pressley, SVP of Global Sales Strategy and Operations at AfterPay, said in a statement. “We are so excited to kick off our partnership with Adyen and Hunter to offer a payment solution that delivers real benefits to consumers and retailers alike.”

Adyen merchants can offer Afterpay in the UK, the U.S., Canada, Australia and New Zealand to their consumers. Adyen provides end-to-end infrastructure connecting directly to Visa, Mastercard and other preferred payment methods. The company serves customers such as Facebook, Uber, Spotify and Casper.

Brian Dammeir, Adyen’s president of North America, recently spoke with FinLedger about how Adyen has certainly seen a lot of growth, and although the global payments platform is based in Amsterdam, North America is actually its fastest growing region with 70% year-over-year net revenue growth.

In December FinLedger reported that Adyen announced the launch of its new Network Token Optimization offering and an expansion of its collaboration with Microsoft. Adyen claimed to be one of the first payment platforms to enable tokenized payments across multiple schemes, and to offer automated optimization of the use of tokens to increase authorization rates.

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