Adyen Marks Three Years in Brazil with 300% Growth
Adyen, the leading global payments technology company, today announced that the volume of its payment transactions in Brazil grew 160% in 2014, representing more than 300% revenue growth. This is a significant milestone for the company after only three years of operation in Brazil, and consolidates its position as a local market leader in payment technology. Adyen now has around 200 clients in Brazil including global companies such as Groupon, EasyTaxi, and Crocs, and local businesses such as Azul Linhas Aéreas, O Boticário, Hering, and OLX.
“There are endless possibilities for growth in Brazil, because in many cases businesses in the market still rely on manual routines for payment processing, risk management and financial reconciliation of payments,” says Jean Christian Mies, Senior Vice President LatAm, Adyen. “Adyen’s proposition is a single integration for the entire payment operation, which means significant cost reduction, smart risk management, and a wide range of financial and transactional analytics and reporting. This gives merchants all the tools and insights they need to improve their conversion rates and ultimately increase revenue.”
Adyen started to process payments in Brazil in 2010 when it partnered with Groupon to launch its operation in the market. Soon after, Adyen opened its São Paulo office, comprised of a team of local payments experts. According to Mies, the company is due to experience an unprecedented increase in transaction processing volume, despite the economic scenario that Brazil faces. “Our preparatory phase is concluded and we now have powerful solutions for a number of different business models. In fact, if the e-commerce market has a prediction to grow by 20% in 2015, we are expecting to grow at a much faster rate,” he says.
On a global level, Adyen processed $25 billion of transactions in 2014, and received an investment of $250 million from investment funds, including General Atlantic, to focus on its global expansion.