Clearpay Partners Thunes with Thunes for Buy-Now and Pay-Later Options

Thunes, a global cross border payments platform, today announced a partnership with Afterpay Limited (formerly known as Buy Now Pay Later) services provider Afterpay Limited. Clearpay Europe and the UK. Via this partnership, Thunes can now offer Clearpay’s BNPL solution to their expansive network of gateways, merchants and marketplace partners.

BNPL in Europe is becoming more popular with consumers. The compound annual growth rate for payment adoption from 2022 to 2030 is predicted to be 30.8%. In the UK for example, according to a report, commissioned by Clearpay, and produced by Accenture in December 2021, One in every £4 spent on fashion e-commerce, or 25% of fashion purchases in the UK, is now paid with BNPL. Furthermore, according to the latest global payments report, in the UK, the world’s third-biggest e-commerce market in approximation at £204 bn transacted in 2020, it is estimated that BNPL will account for 10% of all sales by 2024 when the overall e-commerce market will be worth £280 bn.

“There are many reasons why this partnership is so important for Thunes: BNPL solutions are seeing accelerated adoption and strong consumer demand. The Buy-Now-Pay Later solution also has significant potential for our partners and merchants: it offers opportunities for revenue growth and enhanced customer experience. It also generates a positive economic impact. And ClearPay is a market leader in this industry, offering easy-to-use solutions, so we anticipate significant demand for their service from our merchants,” Christophe Bourbier CEO, Thunes Collects.

Thunes, having acquired payment institution licenses in Europe, Singapore, the UK and other countries, Thunes can offer global merchants, market entrants and payment service providers flexibility to accept and process cross-border payments through this new BNPL.

“In joining Thunes’ Payments ecosystem, we look forward to unlocking even more value for merchants and consumers across the globe. Clearpay has been the top choice for customers who do not want to use credit products as they embrace BNPL. Merchants too, have benefited greatly with improved basket conversion, brand exposure and lifts in average order value,” said Aida Faivre, Country Manager, France, Clearpay.

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