Australian Buy Now Pay Later (BNPL) player Zip Co is set to grow its reach worldwide following a deal with Adobe to partner with the latter’s Magento e-commerce platform. The deal sees Zip become an Accelerate Partner in Adobe’s Exchange Partner Program, and means that Zip’s BNPL services will be offered to thousands of e-commerce merchants using the Magento platform in countries where Zip operates.
According to Jason Woolsey, Vice President, Commerce Product and Platform at Adobe, it’s a win-win for both companies. “The realities of COVID-19 have catapulted digital commerce technologies to the forefront of the market,” he said.
“Consumers love instalment payment solutions because they’re fast, fair and interest-free. Zip enables Magento merchants globally to implement these capabilities effortlessly at checkout, improving cash flow, increasing order value, and keeping customers coming back.”
Zip, which operates in ANZ, US, UK and South African markets, sees the partnership in the context of its global expansion plans. The company acquired US-based QuadPay last year and is growing its operations in Europe and Canada. This partnership means that, wherever Zip has operations, it will have access to the Magento network of merchants.
Peter Gray, the company’s co-founder and COO, said “Adobe is a global leader in digital commerce and this collaboration will help us reach thousands of merchants and their customers with our better way to pay.
“With partners like Adobe, we are well on our way to making Zip the first payment choice, everywhere and every day.”
He told Which-50 the partnership will bring Zip and Magento closer together to provide better resources, education and tools for Magento merchants who want to offer Zip’s easy-to-use, flexible payment options at checkout.
Magento has grown to become one of the biggest e-commerce platforms in the world, supporting over 250,000 merchants and handling hundreds of billions on dollars worth of transactions each year.