Adyen Expands Beyond Payments, Announces Embedded Financial Products
PR95260
AMSTERDAM, Mar. 31, 2022 /PRNewswire=KYODO JBN/--
Adyen (AMS: ADYEN), the global financial technology platform of choice for
leading businesses, has today announced its expansion beyond payments to build
embedded financial products. These products will enable platforms and
marketplaces to create tailored financial experiences for their users such as
small business owners or individual sellers. The suite of products will allow
platforms to unlock new revenue streams and increase user loyalty.
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"By building our banking infrastructure, as a part of the single platform, from
the ground up, we remove the limitations of legacy financial systems, enabling
Adyen to deliver the power of a bank combined with the adaptability of a
fintech," said Thom Ruiter, VP of Banking and Financial Products at Adyen.
"This unique approach means we can offer our platform customers unparalleled
flexibility to meet the evolving needs of their user base without the barriers
of regulatory complexity, lengthy product development, or sponsor bank
restrictions."
"We see this step in building out our financial technology platform as a
natural evolution of our business," said Pieter van der Does, CEO and
co-founder at Adyen. "We're building these products to help businesses achieve
their ambitions faster. For platform businesses this means we empower them to
become a one-stop shop for all their users' needs. We're uniquely positioned to
help them here, combining our technology with our licensing framework."
Starting with Adyen for Platforms, the company enabled platforms to embed
payments into their offering and deliver a unified commerce experience across
sales channels and geographies. Over time, working with platforms surfaced the
need for more control over the payout experience. Adyen then launched Issuing
to improve this experience by enabling platforms to offer their users virtual
and physical cards for business transactions and to directly receive funds
faster.
Going forward, Issuing will be included in a full suite of embedded financial
products, as platforms have highlighted the need to reduce other financial
complexities for their users too. Among the products that will be built out are
multi-currency accounts, allowing users to receive payments, initiate pay outs,
and safely store money all in one place. These accounts will also enable
platforms to facilitate the extension of financing to their users within the
platform interface. Due to Adyen's data-driven risk-scoring capabilities, these
financing offers are pre-qualified and require no additional checks on the user
end. This will enable platforms to solidify their relationships with their
users, while also providing a traditionally underbanked segment, namely small
business owners, with the funds needed to build their businesses.
Adyen's complete suite of embedded financial products paired with payments
allows platforms to centralize their users' finance needs in a single ecosystem.
See here (
) for additional updates on Adyen's product and commercial strategies.
About Adyen
Adyen (AMS: ADYEN) is the financial technology platform of choice for leading
companies. By providing end-to-end payments capabilities, data-driven insights,
and financial products in a single global solution, Adyen helps businesses
achieve their ambitions faster. With offices around the world, Adyen works with
the likes of Facebook, Uber, H&M, eBay, and Microsoft. Adyen continuously
improves and expands its product offering as part of its ordinary course of
business. New products and features are announced via press releases and
product updates on the company's website.
SOURCE: Adyen Inc.
CONTACT: Kayla LaDuke, kayla.laduke@adyen.com
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