Adyen and Affirm strengthen their association in Canada

The Dutch payment platform Adyen has signed a partnership strengthening with a specialist of BNPL. This time it is Affirm, the American FinTech specializes in split payment. Their common ambitions now concern the Canadian market but for Adyen, this rapprochement also underscores its growing interest in the BNPL.

FACTS

• Affirm and Adyen have recently announced that they have expanded their partnership to offer flexible payment options to more traders and platforms in Canada and the United States.

• Canadian traders using Adyen's services will now also be able to offer Affirm's payment facilities.

• End customers will have the opportunity to enjoy a personalized payment solution, over 6 weeks to 6 months, free of charge.

• This new rapprochement also reinforces the possible uses of Affirm's services for Adyen customers in the United States (for example in the markets for services on demand or crowdfunding).

ISSUES

• First : The two partners underline the unique nature of their rapprochement, as Affirm becomes the first BNPL supplier to support Adyen for Platforms. This solution aims precisely to offer innovative and ever more flexible financial services. It should allow marketplaces, SaaS applications or multi-supplier companies to manage payments for their end users more easily.

• Strengthening partnership : Far from being a first rapprochement, this new partnership is presented as a means for both groups to consolidate their joint work. Adyen and Affirm have been working together since November 2020, when they made Affirm accessible to Adyen traders eligible in the United States.

• Highlight their success : The two partners also take advantage of the announcement of the strengthening of their association to highlight the significant increase in their average annual volume, multiplied by more than seven between 2021 and 2023.

PERSPECTIVE

• It was last October that Adyen was already strengthening a leading partnership with another BNPL player, Klarna. At that time, their approximation The aim was to integrate Klarna's "Buy Now pay later" option into Adyen's physical payment terminals, thereby strengthening the presence of this payment method on the global market.

• The strengthening of its partnership now with Affirm underscores its ambition to impose itself on a market with high potential while Affirm also comes to announce its deployment to the United Kingdom.

• It is still necessary to adapt to the new regulations aimed at regulating the sector. Europe as in United Kingdom.

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