Source: Zip
Zip Co Limited (ASX: Z1P), a leading global Buy Now, Pay Later (BNPL) company, has announced a global partnership with all-in-one payments platform, Adyen (AMS:ADYEN).
Zip will provide merchants in the Adyen network - including , Chemist Warehouse Bugaboo, and Yours Clothing - access to its innovative Buy Now Pay Later (BNPL) solutions at checkout.
Some of the world’s biggest retail and technology companies use the Adyen platform to accept payments in a single system, enabling revenue growth online, on mobile devices and at the point of sale. These merchants will now have the option to effortlessly add Zip to their checkout pages, enabling their customers to Buy Now, Pay Later using Zip.
Under the agreement, Adyen will also become a payment processing partner of Zip and its global affiliates, processing consumer repayments when they use a credit or debit card.
It comes as Zip and the BNPL sector continue to gain momentum globally. Zip data shows the availability of flexible and transparent payment options is helping retailers to deliver a seamless checkout experience for consumers, while driving increased sales (+20 percent), Average Order Value (+60 percent) and Repeat Customer Rate (+80 percent) for some merchants.
Warren Hayashi, President of Asia-Pacific, Adyen commented: “We built Adyen to meet the changing needs of today's fast-growing global businesses, including access to alternative payment solutions like Zip. Consumers are increasingly looking for more choice and transparency at checkout, and this partnership gives Adyen merchants the means to meet that demand, with transparent financing solutions from an innovative leader in BNPL.”
Larry Diamond, CEO and Co-Founder of Zip said: “Like Zip, Adyen was founded as an alternative to outdated ways of doing things, which were no longer fit for purpose. We want Zip to be the first payment choice, everywhere and everyday and working with leaders like Adyen will help us get there sooner, enabling us to reach millions more people worldwide with our fair, accessible and innovative payment solutions.”
Zip’s instalment payment platform will be available to new and existing Adyen online merchants in Australia, New Zealand, the U.K. and U.S.