Native checkout companies Bonsai and Afterpay are partnering to bring buy now pay later (BNPL) options to online publishers, the two companies announced on Wednesday.
Shares of Afterpay closed the day’s trading session at $88.30 (£64.64), representing a 1.88% increase by the closing bell.
Frictionless online shopping
Bonsai and Afterpay said in a press release that the partnership was forged to bring a “frictionless online shopping experience” to digital publishers.
The new partners plan to disrupt the traditional e-commerce model by leveraging affiliate links, a way to redirect customers to a merchant’s website. Merchants then pay a commission fee to the content publishers who brought the customers to them. Bonsai offers publishers' commissions at three or four times what other affiliates offer, the release said.
The first big-name company to sign on with the new partners is BuzzFeed. Customers will now be able to purchase products directly via website content BuzzFeed promotes or creates using Bonsai while Afterpay offers customers BNPL payment options on their purchases.
“Bonsai and Afterpay have both been at the forefront of rethinking the way we shop online, so this partnership made perfect sense,” Saad Siddiqui, co-founder and CEO at Bonsai, said in a statement. “We’re building a native commerce ecosystem that brings publishers like BuzzFeed, merchants, and consumers together at the right moment, and with the right payment options available to them, to make online purchasing truly seamless.”
Nilla Ali, senior vice president of commerce at BuzzFeed, described the deal as a way to provide their customers with the “flexibility to pay over time.”
“Since launch, BuzzFeed’s commerce business has always focused on our audience and putting their needs and behaviors first in both our content development process and partnerships. We are always looking for opportunities that allow us to super serve our audience and open up new ways for them to seamlessly transact across our properties,” Ali said.
Rise of BNPL
As the holiday season approaches, several companies have been staking out claims in the BNPL space.
Most recently, Target announced a deal with Sezzle and Affirm to offer its customers BNPL options. Other retailers like Walmart and Amazon have also added BNPL options.
“In today’s digital world, consumers expect to be able to buy things with ease and flexibility - no matter where they may be online,” Melissa Davis, chief revenue officer at Afterpay, said in a statement. “Great media services like BuzzFeed can now extend beyond product recommendations to be a full funnel shopping experience, and now shoppers can use those services to spend their money responsibly and pay over time with Afterpay.”