Adyen

Adyen

Adyen

Dutch financial services company

Not to be confused with Ayden.

Adyen is a Dutch payment company with the status of an acquiring bank that allows businesses to accept e-commerce, mobile, and point-of-sale payments. It is listed on the stock exchange Euronext Amsterdam.[3]

Quick Facts Company type, Traded as ...

Adyen offers merchants online services for merchants to accept electronic payments using payment methods including credit cards, debit cards, wire transfers, and real-time bank transfers based on online banking. It connects merchants to different payment methods, including international credit cards, local cash-based methods, and mobile payment methods. The technology platform acts as a payment gateway and a payment service provider.[4]

History

Adyen was founded in 2006 by Pieter van der Does and Arnout Schuijff, now the CEO and CTO, respectively.[5] Headquartered in Amsterdam, the company employs around 2,000 people in offices in twenty-three countries.[4]

The name Adyen means 'start again' in Sranan Tongo.[6] This is a reference to this being the second project of the founders after Bibit.[7]

In 2012, Adyen started to expand globally, opening its offices in San Francisco, Paris, and London. In the same year, it obtained its pan-European acquiring a license.[8]

In 2015, Adyen achieved a valuation of $2.3 billion, making it the sixth-largest European unicorn.[9]

In 2016, it obtained an acquiring license in Brazil through a BIN sponsorship.[8] In the same year, Adyen was ranked #10 on the Forbes Cloud 100 list.[10]

In April 2017, the company was granted a European banking license, which gives it the status of an acquiring bank.[11] It also obtained acquiring licenses in Singapore, Hong Kong, Australia, and New Zealand.[12][13]

On 24 May 2018, the company announced that it would be making the company public by listing shares publicly in Amsterdam.[14] The IPO took place on 13 June 2018.[15]

In 2019, Adyen opened new offices in Tokyo and Mumbai, and expanded its payment offering in Africa.[16] In the same year, it launched Adyen Issuing, a virtual and physical card-issuing business to complement payments services to merchants.[17]

In 2020, the company benefited from an accelerated digitalization of global ecommerce in the online retail segment, which compensated for the declining travel volumes in enterprises due to the COVID-19 pandemic. It launched mobile Android POS devices worldwide in the second half of the year.[18] In addition, it opened a new office in Dubai, expanding its offering in the Middle East.[19]

Growth

The company has been profitable since 2011.[20] Its earnings grew from $46 million in 2015 to $87 million in 2016.[20] Its gross revenue grew 99 percent in 2016 to $727 million.[21][22][20]

In December 2014, the company announced a funding round of $250 million led by growth equity firm General Atlantic, joined by existing investors Temasek Holdings, Index Ventures, and Felicis Ventures.[23][24]

In 2016, the company saw transaction volume increase to $90 billion, up from $50 billion in 2015.[25]

In 2017, Adyen surpassed €100 billion in processed volume.[8]

On January 31, 2018 eBay announced that it had signed an agreement with Adyen to become its primary payments processing partner. eBay began intermediation on a small scale in North America starting in the second half of 2018, expanding in 2019 under the terms of the operating agreement with PayPal. In 2021, eBay transitioned a majority of its marketplace customers to Adyen.[26]

In 2020, Adyen had a net revenue of €684 million, a 28% increase year-on-year.[27]

In 2021, net revenue hit €1 billion.[28]

In 2022, the company exceeded €1.3 billion in revenue.[29]

References

  1. [1]
    "2022 Annual Report" (PDF). Adyen. Retrieved 10 August 2023.
  2. [2]
    Venkataramakrishnan, Siddharth (17 August 2023). "Payments group Adyen defends hiring spree as shares tumble 20%". Financial Times.
  3. [3]
    "ADYEN | Euronext exchange Live quotes". live.euronext.com. Retrieved 23 December 2022.
  4. [4]
    "Adyen: Our Story". adyen.com. Retrieved 17 November 2020.
  5. [5]
    "Adyen on the Forbes Cloud 100 List". Forbes. Retrieved 22 September 2017.
  6. [6]
    "Profile: Pieter van der Does, the man behind Adyen". Technology Magazine.
  7. [7]
    "Miljardenbedrijf Adyen maakt hoge verwachtingen voorlopig waar". NOS. 22 August 2018. Retrieved 30 October 2018.
  8. [8]
    "Adyen Annual Report 2019". Adyen. Retrieved 2 December 2020.
  9. [9]
    "The European unicorn unbanking the merchant". Hot Topics. 26 October 2015. Retrieved 27 October 2015.
  10. [10]
    "Forbes Cloud 100". Forbes. Retrieved 29 October 2016.
  11. [11]
    "Dutch payments processor takes pan-European license to bypass banks". Reuters. 26 June 2017. Retrieved 22 September 2017.
  12. [12]
    hermes (9 September 2017). "Payments tech provider targets Asia-Pac expansion". The Straits Times. Retrieved 15 September 2017.
  13. [13]
    Finextra (7 September 2017). "Adyen expands direct credit card acquiring capabilities to include Singapore". Finextra Research. Retrieved 15 September 2017.
  14. [14]
    "A Dutch payment giant backed by Mark Zuckerberg and used by Uber is going public". Business Insider. Retrieved 25 May 2018.
  15. [15]
    "Adyen knalt omhoog na beursgang". NU.nl (in Dutch). 13 June 2018. Retrieved 13 June 2018.
  16. [16]
    "Adyen expands its global payment offering to Africa". Global Banking & Finance Review. 7 June 2019. Retrieved 2 December 2020.
  17. [17]
    "Adyen keeps focus on organic growth as it launches cards product". Reuters. 14 November 2019. Retrieved 2 December 2020.
  18. [18]
    "Shareholder letter H2 2020". Adyen. Retrieved 10 February 2021.
  19. [19]
    "Dutch payment giant Adyen to expand into the Middle East, opens Dubai office". Silicon Canals. 11 November 2020. Retrieved 10 February 2021.
  20. [20]
    "The next big payments IPO could be a fast-growing startup not named Stripe". 12 April 2017. Retrieved 22 September 2017.
  21. [21]
    Kharpal, Arjun (12 April 2017). "Adyen, the $2.3 billion firm that processes payments for Uber and Netflix, saw 2016 revenues rise 99%". CNBC. Retrieved 15 September 2017.
  22. [22]
    Rogers, Bruce. "Payments Company Adyen Scales To New Heights". Forbes. Retrieved 15 September 2017.
  23. [23]
    Chapman, Lizette. "Payment Startup Adyen Raises $250 Million at $1.5 Billion Valuation". The Wall Street Journal. Retrieved 16 December 2015.
  24. [24]
    "Adyen Raises $250 Million in Funding to Accelerate Growth of Its Global Payments Platform". General Atlantic website. Archived from the original on 21 July 2016. Retrieved 16 December 2015.
  25. [25]
    Choudhury, Saheli Roy (8 February 2017). "Company behind Facebook, Uber and Netflix payments reveals huge transaction growth". CNBC. Retrieved 22 September 2017.
  26. [26]
    "EBay Rises to Record High on Shift to Adyen; PayPal Tumbles". Bloomberg. 31 January 2018 – via www.bloomberg.com.
  27. [27]
    "Adyen publishes H2 2020 financial results". 10 February 2021. Retrieved 10 February 2021.
  28. [28]
    "Adyen". Adyen.
  29. [29]
    Adyen. "Adyen". Adyen. Retrieved 26 July 2023.
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