Adyen, the technology company enabling global commerce, today announced a worldwide expansion of its credit card acquiring capabilities. This comes as Adyen adds Brazil, Hong Kong and Australia to the growing list of markets, which already included the U.S. and Europe, in which it operates as an acquirer.
The expanded acquiring capabilities mean that merchants with customers in Brazil, Hong Kong and Australia can now also process credit cards locally via Adyen’s platform. This is a huge benefit for merchants as it eliminates the need to run payments through multiple third party acquirers in each region, which often rely on a patchwork of legacy systems that were not designed for the digital age.
Adyen replaces this outdated network with an entirely new infrastructure, built from the ground up to handle the entire payment flow, now including direct connections to all card networks on a global scale. This infrastructure is built and managed in house, unique in an industry that tends to rely on white labeling legacy solutions. The result is the best authorization rates, unprecedented uptime across all channels, and granular data insights to drive optimization.
“We founded Adyen in order to provide a payments technology which maximizes conversion rates and accelerates expansion for global businesses.” says Adyen’s CCO Roelant Prins. “The only way to truly achieve this is to retain complete control of the payment, from the moment the customer inserts his card or hits ‘pay’, to settling the amount in the merchant’s account. Global acquiring is a fundamental part of that process. We don’t do this through acquisition or partnerships; everything that goes on under the hood is 100% Adyen.”
Adyen Global Acquiring represents a significant milestone for the company that was valued at $2.3 billion and achieved more than 100% revenue growth in 2015, in turn fueling the growth of some of the world’s fastest growing companies.