Ken Research’s Fintech Profile: Adyen gives insights of the fintech strategies used by
Adyen. The report gives key insights of the company, its business description, revenue
model, funding, accelerator programs, partnerships and other in-house launches.
The report helps in understanding the biography of the top management and gain
insights into their target market and impact. The key companies that Adyen has
partnered for its technological and commercial expansions are ICONIQ Capital, General Atlantic, Netflix, eBay and Uber.
Adyen, founded in 2006 aimed to change the
existing payment technology which was made up of a patchwork of systems that
were outdated in terms of their infrastructure. Adyen, which is Surinamese for
‘Start over again’ started their business by building modern infrastructure
relating to card networks and local payment methods. This would allow a unified
commerce and shopping insights of customers to merchants to enable in providing
personalised recommendations. The platform thus enables merchants in a single
system that boosted their revenue growth on electronic devices and at the point
of sale. Adyen has its operations in about 15 countries- Amsterdam, Berlin, Brussels, London, Madrid, Manchester, Mexico
City, New York, Paris, San Francisco, São Paulo, Shanghai, Singapore, Stockholm,
Sydney. The company has been expanding its operations and many significant partnerships
since 2016.
In 2018, the company listed its share for the public offering in
Amsterdam. One of the key partnerships for Adyen has been with eBay earlier in
2018 where eBay replaced PayPal with Adyen as its payment provider. Though the
size of PayPal is much bigger than Adyen, eBay went ahead with the partnership
due to the lowered costs Adyen will provide to eBay. Adyen’s services would
mean more control of finances for its merchants. The technology it uses
processes the backend payment services using its technology which means the
customers do not interact with Adyen directly. This is
opposed to other payment services where the customers have to sign up and
register with the provider to avail their services. The company recently announced how it is the
first payments platform to provide a system that offers passive authentication for
transactions based on EMVCo’s 3DS 2.0 protocol. This type of authentication
helps in analysing more than 100 data points for just one transaction, without
any involvement from customers. For stronger transactions, it supports
two-factor authentication which includes SMS and biometric verification. This
also shows the company’s adaption to the biometric authentication as customers
and businesses are becoming wary of security threats posed by passwords and pin
codes.
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