Latest News

Adyen Sees 67 Pct Spike In Processed Volume

Adyen saw a 67 percent increase in processed volume during the first half of 2021, the payments company said in its earnings report Thursday (Aug. 19).

According to the Dutch firm’s letter to its shareholders, Adyen processed 216 billion euros ($252 billion) in the first six months of the year.

Adyen attributed that growth to three factors. First is the continuous addition of well-known brands to its platform along with minimal churn. Among the newest clients is global delivery giant Just Eat Takeaway.

As Adyen was announcing its earnings Thursday, Just Eat was making an announcement of its own, unveiling a new pre-funded card powered by Adyen and available at select Mastercard and Maestro merchants.

Read more: Just Eat Takeaway.com Rolls Out Pre-Paid Card For Meal Expenses

In its announcement, Adyen also said its volume growth came from a product strategy “set by enterprise merchant priorities,” as well as expansions into new countries, including the U.S., UAE, and Japan.

Founded in 2006, Adyen’s platform allows businesses to accept mobile, eCommerce and point-of-sale systems payments.

The company said in its shareholder letter that it has seen a strong first half to the year as more and more businesses and consumers move to digital payments.

“The COVID-19 pandemic continued to dominate the day-to-day reality of many of our merchants,” the letter said.  “As such, helping our merchants navigate the ever-shifting environment of the global pandemic remained a primary focus.”

But Adyen said there was continuity in the face of the pandemic, with most of its growth — over 80 percent — coming from merchants who were already using its platform.

“Minimal” volume churn in this case means less than one percent, which the company says shows that it is on the right track in “a space that is consistently buoyed by macroeconomic trends” (in this case, the digitization of commerce and the move away from cash).

Adyen’s net revenue for the first half of the year was 445 million euros, or $525 million, a 46 percent increase year over year.

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:Latest News