Adyen N.V.
TypeNaamloze vennootschap
ISINUS00783V1044 Edit this on Wikidata
IndustryPayment processor, technology, e-commerce, point of sale
Founded2006 (2006)
Founders
Headquarters
Amsterdam
,
Netherlands
Key people
  • Pieter van der Does (CEO)
ServicesPayment service provider, gateway, risk management, local acquiring, point of sale, issuing
RevenueIncrease €1.19 billion (2022)[1]: 129 
Increase €649 million (2022)[1]: 129 
Increase €564 million (2022)[1]: 129 
Total assetsIncrease €7.09 billion (2022)[1]: 130 
Total equityIncrease €2.41 billion (2022)[1]: 130 
Number of employees
3,883[2] (2023)
Websitewww.adyen.com
Footnotes / references
[1]

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]

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]

The competitive USP of Adyen is that it operates a single, global payment platform consisting of a plug-and-play package for payments: the gateway for merchants to initiate payments for a wide range of payment methods, risk management to prevent fraudulent transactions, payment processing to communicate the transaction between the merchant and the customer banks, the bearing of transaction risks and the authorization of the payment to merchants, and finally the payment settlement.[5]

History

Adyen was founded in 2006 by Pieter van der Does and Arnout Schuijff, now the CEO and CTO, respectively.[6] 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.[7] This is a reference to this being the second project of the founders after Bibit.[8]

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.[9]

In 2015, Adyen achieved a valuation of $2.3 billion, making it the sixth-largest European unicorn.[10]

In 2016, it obtained an acquiring license in Brazil through a BIN sponsorship.[9] In the same year, Adyen was ranked #10 on the Forbes Cloud 100 list.[11]

In April 2017, the company was granted a European banking license, which gives it the status of an acquiring bank.[12] It also obtained acquiring licenses in Singapore, Hong Kong, Australia, and New Zealand.[13][14]

On 24 May 2018, the company announced that it would be making the company public by listing shares publicly in Amsterdam.[15] The IPO took place on 13 June 2018.[16]

In 2019, Adyen opened new offices in Tokyo and Mumbai, and expanded its payment offering in Africa.[17] In the same year, it launched Adyen Issuing, a virtual and physical card-issuing business to complement payments services to merchants.[18]

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.[19] In addition, it opened a new office in Dubai, expanding its offering in the Middle East.[20]

Growth

The company has been profitable since 2011.[21] Its earnings grew from $46 million in 2015 to $87 million in 2016.[21] Its gross revenue grew 99 percent in 2016 to $727 million.[22][23][21]

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.[24][25]

In 2016, the company saw transaction volume increase to $90 billion, up from $50 billion in 2015.[26]

In 2017, Adyen surpassed €100 billion in processed volume.[9]

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.[27]

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

In 2021, net revenue hit €1 billion.[29]

In 2022, the company exceeded €1.3 billion in revenue.[30]

References

  1. 1 2 3 4 5 6 "2022 Annual Report" (PDF). Adyen. Retrieved 10 August 2023.
  2. ↑ Venkataramakrishnan, Siddharth (17 August 2023). "Payments group Adyen defends hiring spree as shares tumble 20%". Financial Times.
  3. ↑ "ADYEN | Euronext exchange Live quotes". live.euronext.com. Retrieved 23 December 2022.
  4. 1 2 "Adyen: Our Story". adyen.com. Retrieved 17 November 2020.
  5. ↑ Fischer, Matthias (8 February 2021). Fintech Business Models. De Gruyter. pp. 30–31. doi:10.1515/9783110704907. ISBN 978-3-11-070490-7. S2CID 233883185.
  6. ↑ "Adyen on the Forbes Cloud 100 List". Forbes. Retrieved 22 September 2017.
  7. ↑ "Profile: Pieter van der Does, the man behind Adyen". Technology Magazine.
  8. ↑ "Miljardenbedrijf Adyen maakt hoge verwachtingen voorlopig waar". NOS. 22 August 2018. Retrieved 30 October 2018.
  9. 1 2 3 "Adyen Annual Report 2019". Adyen. Retrieved 2 December 2020.
  10. ↑ "The European unicorn unbanking the merchant". Hot Topics. 26 October 2015. Retrieved 27 October 2015.
  11. ↑ "Forbes Cloud 100". Forbes. Retrieved 29 October 2016.
  12. ↑ "Dutch payments processor takes pan-European license to bypass banks". Reuters. 26 June 2017. Retrieved 22 September 2017.
  13. ↑ hermes (9 September 2017). "Payments tech provider targets Asia-Pac expansion". The Straits Times. Retrieved 15 September 2017.
  14. ↑ Finextra (7 September 2017). "Adyen expands direct credit card acquiring capabilities to include Singapore". Finextra Research. Retrieved 15 September 2017.
  15. ↑ "A Dutch payment giant backed by Mark Zuckerberg and used by Uber is going public". Business Insider. Retrieved 25 May 2018.
  16. ↑ "Adyen knalt omhoog na beursgang". NU.nl (in Dutch). 13 June 2018. Retrieved 13 June 2018.
  17. ↑ "Adyen expands its global payment offering to Africa". Global Banking & Finance Review. 7 June 2019. Retrieved 2 December 2020.
  18. ↑ "Adyen keeps focus on organic growth as it launches cards product". Reuters. 14 November 2019. Retrieved 2 December 2020.
  19. ↑ "Shareholder letter H2 2020". Adyen. Retrieved 10 February 2021.
  20. ↑ "Dutch payment giant Adyen to expand into the Middle East, opens Dubai office". Silicon Canals. 11 November 2020. Retrieved 10 February 2021.
  21. 1 2 3 "The next big payments IPO could be a fast-growing startup not named Stripe". 12 April 2017. Retrieved 22 September 2017.
  22. ↑ 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.
  23. ↑ Rogers, Bruce. "Payments Company Adyen Scales To New Heights". Forbes. Retrieved 15 September 2017.
  24. ↑ Chapman, Lizette. "Payment Startup Adyen Raises $250 Million at $1.5 Billion Valuation". The Wall Street Journal. Retrieved 16 December 2015.
  25. ↑ "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.
  26. ↑ Choudhury, Saheli Roy (8 February 2017). "Company behind Facebook, Uber and Netflix payments reveals huge transaction growth". CNBC. Retrieved 22 September 2017.
  27. ↑ "EBay Rises to Record High on Shift to Adyen; PayPal Tumbles". Bloomberg. 31 January 2018 – via www.bloomberg.com.
  28. ↑ "Adyen publishes H2 2020 financial results". 10 February 2021. Retrieved 10 February 2021.
  29. ↑ "Adyen". Adyen.
  30. ↑ Adyen. "Adyen". Adyen. Retrieved 26 July 2023.
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