The buy now, pay later market has quickly evolved from a niche financing option into a mainstream payment method for online shoppers. As consumers seek greater flexibility at checkout and merchants look for ways to increase conversions, buy now, pay later solutions have become an important part of the modern e-commerce experience. The growing popularity of installment payments is reshaping checkout strategies and creating new opportunities for merchants to attract and retain customers.
As adoption accelerates, payment providers are forming partnerships to make buy now, pay later options easier to deploy across digital channels. By combining flexible financing with secure payment infrastructure, companies can help merchants reduce friction at checkout while supporting stronger sales growth and customer engagement.
MIAMI, FL—November 1, 2021—ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software and solutions, today announced a partnership with Affirm, the payment network that empowers consumers and helps merchants drive growth. U.S. merchants using ACI Secure eCommerce can now seamlessly offer consumers the ability to make purchases with Affirm and pay-over-time without any late or hidden fees.
A recent Aite-Novarica Group report projects the buy now, pay later (BNPL) market will grow to more than US$1.2 trillion by 2024. ACI and Affirm’s partnership allows merchants to take advantage of this growth with an integrated offering that provides consumers the option to split the total cost of purchases into biweekly or monthly payments with as low as 0% APR. ACI’s Secure eCommerce solution will also give merchants a powerful payments gateway, sophisticated real-time fraud prevention capabilities and advanced business intelligence tools.
“Consumers are demanding flexible payment options at checkout that help them shop in a way that works with their budget,” said Geoff Kott, chief revenue officer, Affirm. “Merchants need to offer the right solutions to meet their customers’ needs and succeed in today’s market environment. Through this partnership, merchants using ACI’s Secure eCommerce solution can now easily integrate Affirm’s compelling offerings that help turn browsers into buyers while delivering greater flexibility at checkout with no gotchas or late fees.”
“With millions of consumers shifting their spending habits and looking for quick and convenient payment methods like buy now, pay later, we are excited to partner with Affirm to help drive conversion for merchants,” said Debbie Guerra, head of merchant payments, ACI Worldwide. “Today’s consumers want payment alternatives and merchants need to keep up or get left behind. The partnership with ACI and Affirm makes it possible for merchants to meet these consumers where they are.”
ACI Secure eCommerce provides merchants with access to an extensive global payments network and the confidence that their customers and transactions are protected against fraud. ACI Secure eCommerce was recently recognized by Juniper Research, winning three awards for innovation in payments, including a Platinum Award – the highest accolade in the category of ‘Payments Innovation of the Year.’ In addition, ACI’s fraud management solution recently received full approval on the patent for its incremental learning technology.
Conclusion
The continued growth of buy now, pay later services highlights the changing expectations of today’s digital consumers. Shoppers increasingly want flexible payment options that fit their budgets, while merchants need solutions that can improve conversion rates without adding complexity to the checkout process.
Partnerships such as the one between ACI Worldwide and Affirm demonstrate how payment technology providers are responding to these demands. As e-commerce payments continue to evolve, integrated installment payments, fraud prevention tools, and digital checkout solutions will remain important components of a successful online commerce strategy.
