Adyen

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Adyen N.V.
TypeNaamloze vennootschap
EuronextADYEN
AEX component
IndustryPayment processor, technology, e-commerce, point of sale
Founded2006
FounderArnout Schuijff, Pieter van der Does
Headquarters
Amsterdam
,
Netherlands
Number of locations
Amsterdam, Berlin, Brussels, Dubai, Hong Kong, London, Madrid, Manchester, Melbourne, Mexico City, Milan, Mumbai, Munich, New York, Paris, San Francisco, Sao Paulo, Shanghai, Singapore, Stockholm, Sydney, Tokyo, Toronto
Key people
  • Pieter van der Does (CEO)
ServicesPayment service provider, gateway, risk management, local acquiring, point of sale, issuing
RevenueEUR 684.2M (2020)
Number of employees
1750 (2020)
Websitewww.adyen.com

Adyen is a Dutch payment company that allows businesses to accept e-commerce, mobile, and point-of-sale payments. It is listed on the stock exchange Euronext.

Adyen offers merchants online services for accepting electronic payments by payment methods including credit cards, bank based payments such as debit cards, bank transfer, and real-time bank transfers based on online banking. Adyen's online payment platform connects to payment methods across the world. Payment methods include international credit cards, local cash-based methods, such as Boleto in Brazil, Internet banking methods, such as iDEAL in the Netherlands and Mobile payment methods, such as Blik in Poland. The technology platform acts as a payment gateway, payment service provider and offers risk management and local acquiring.[1]

History[edit]

Adyen was founded in 2006 by a team of payment industry professionals (the core management team hails from Bibit and have been working together for close to twelve years), including Pieter van der Does and Arnout Schuijff, now the CEO and CTO respectively.[2] Headquartered in Amsterdam, the company employs around 2,000 people in offices in twenty three countries.[1]

The name Adyen means 'start again' in Sranan Tongo. This is a reference to this being the second project of the founders, after Bibit.[3]

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 license.[4]

In 2015, Adyen achieved a valuation of $2.3 billion, making it the sixth largest European unicorn.[5]

In 2016, it obtained an acquiring license in Brazil through a BIN sponsorship.[6] In the same year, Adyen was ranked #10 on the Forbes Cloud 100 list.[7]

In 2017, Adyen was ranked #5 on the Forbes Cloud 100 list.[8]

In April 2017, the company was granted a European banking license, which gives it the status of an acquiring bank.[9] In the same year, it obtained acquiring licenses in Singapore, Hong Kong, Australia, and New Zealand.[10][11]

On 24 May 2018, the company announced that it will be making the company public by listing shares publicly in Amsterdam.[12] The IPO took place on 13 June 2018.[13]

In 2019, Adyen opened new offices in Tokyo and Mumbai, and expand its payment offering in Africa.[14][15] In the same year, it launched Adyen Issuing, a virtual and physical card-issuing business to complement payments services to merchants.[16]

In 2020, a challenging year worldwide due to the COVID-19 pandemic, the company benefited from an accelerated digitalization of global ecommerce in the online retail segment, that compensated the declining travel volumes in enterprises. Moreover, in the same year, it launched mobile Android POS devices worldwide.[17] In addition, it opened a new office in Dubai, expanding its offering in the Middle East.[18]

Growth[edit]

The company has been profitable since 2011.[19] Its earnings grew from $46 million in 2015 to $87 million in 2016.[19]

Its gross revenue grew 99 percent in 2016 to $727 million.[20][21][19]

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.[22][23]

In 2016, the company saw transaction volume increase to $90 billion, up from $50 billion in 2015.[24]

In 2017, Adyen hit a milestone by surpassing EUR 100 billion in processed volume.[25]

On January 31, 2018 eBay announced that it had signed an agreement with Adyen to become its primary payments processing partner. The transition to full payments intermediation will take several years. eBay will begin 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 expects to have transitioned a majority of its marketplace customers to Adyen.[26]

In 2019, the business processed a total of EUR 240 billion, a 51% increase year-on-year, and achieved a net revenue of EUR 497 million.[27]

In 2020, during the COVID-19 pandemic, it processed a total of EUR 303 billion, a 27% increase year-on-year, with a net revenue of EUR 684 million, a 28% increase year-on-year.[28]

References[edit]

  1. ^ a b "Adyen: Our Story". adyen.com. Retrieved 17 November 2020.
  2. ^ "Adyen on the Forbes Cloud 100 List". Retrieved 22 September 2017.
  3. ^ "Miljardenbedrijf Adyen maakt hoge verwachtingen voorlopig waar". NOS. Retrieved 30 October 2018.
  4. ^ "Adyen Annual Report 2019". Adyen. Retrieved 2 December 2020.
  5. ^ "The European unicorn unbanking the merchant". Hot Topics. 26 October 2015. Retrieved 27 October 2015.
  6. ^ "Adyen Annual Report 2019". Adyen. Retrieved 2 December 2020.
  7. ^ "Forbes Cloud 100". Forbes. Retrieved 29 October 2016.
  8. ^ "Cloud 100 2017". Forbes. Retrieved 22 September 2017.
  9. ^ "Dutch payments processor takes pan-European license to bypass banks". Reuters. 26 June 2017. Retrieved 22 September 2017.
  10. ^ hermes (9 September 2017). "Payments tech provider targets Asia-Pac expansion". The Straits Times. Retrieved 15 September 2017.
  11. ^ Finextra (7 September 2017). "Adyen expands direct credit card acquiring capabilities to include Singapore". Finextra Research. Retrieved 15 September 2017.
  12. ^ "A Dutch payment giant backed by Mark Zuckerberg and used by Uber is going public". Business Insider. Retrieved 25 May 2018.
  13. ^ "Adyen knalt omhoog na beursgang". NU.nl (in Dutch). 13 June 2018. Retrieved 13 June 2018.
  14. ^ "Adyen to expand into the Middle East, opens Dubai office". PR Newswire. Retrieved 2 December 2020.
  15. ^ "Adyen expands its global payment offering to Africa". Global Banking & Finance Review. Retrieved 2 December 2020.
  16. ^ "Adyen keeps focus on organic growth as it launches cards product". Reuters. Retrieved 2 December 2020.
  17. ^ "Shareholder letter H2 2020". Adyen. Retrieved 10 February 2021.
  18. ^ "Dutch payment giant Adyen to expand into the Middle East, opens Dubai office". Silicon Canals. Retrieved 10 February 2021.
  19. ^ a b c "The next big payments IPO could be a fast-growing startup not named Stripe". 12 April 2017. Retrieved 22 September 2017.
  20. ^ 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.
  21. ^ Rogers, Bruce. "Payments Company Adyen Scales To New Heights". Forbes. Retrieved 15 September 2017.
  22. ^ Chapman, Lizette. "Payment Startup Adyen Raises $250 Million at $1.5 Billion Valuation". The Wall Street Journal. Retrieved 16 December 2015.
  23. ^ "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.
  24. ^ Choudhury, Saheli Roy (8 February 2017). "Company behind Facebook, Uber and Netflix payments reveals huge transaction growth". Retrieved 22 September 2017.
  25. ^ "Adyen Annual Report 2019". Adyen. Retrieved 2 December 2020.
  26. ^ "EBay Rises to Record High on Shift to Adyen; PayPal Tumbles".
  27. ^ "FinTech profile: Adyen - the all-in-one payments platform". 1 April 2020. Retrieved 2 December 2020.
  28. ^ "Adyen publishes H2 2020 financial results". 10 February 2021. Retrieved 10 February 2021.