Adyen is a payments company based in Amsterdam and currently is valued around $2.3 billion; the company has over 4,000 clients which includes names like Netflix, Facebook, Uber and Spotify; Forbes profiles the company and their co-founder and president, Pieter van der Does. Source
WhatsApp launches payments in Brazil and is unceremoniously shut down by the central bank a week later, MasterCard buys Finicity to protect itself against Visa’s recent acquisition of Plaid, Checkout.com continues its largely silent meteoric rise in payments, Softbank-backed and DAX 30 index component Wirecard “loses" $2 billion from its balance sheet and files for insolvency, Upgrade raises $40 million at a $1 billion valuation to extend its personal credit offering.
Ebay dropped PayPal and turned to Adyen to be its primary processing partner; Banking Technology reports that eBay users “do not need to take any action at this time” as the “transition to full payments intermediation will be a multi-year journey”.; the deal will begin with a move in North America in the second half of 2018 before expanding in 2019. Source.
Adyen reported an 80% increase in 2016 payment transactions with transaction volume of $90 billion; the growth was attributed to partnerships with Uber, Spotify, Airbnb, Booking.com, Facebook, Twitter and LinkedIn; growth is expected to continue in 2017 with contributions from new in-store payment services which it expects to grow to 50% of its business; the firm also says the European Commission's Payment Services Directive 2 (PSD2) will help improve business for Adyen. Source
Card payment fees have been a long-standing issue for businesses. Pay by bank could be a solution. Plaid joins Adyen to make it possible.
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