GoFundMe Selects Adyen to Power U.S. & European Platform Payments
Adyen, the payments platform of choice for the world's leading companies, today announced Adyen for Platforms, a flexible end-to-end payments solution allowing online platforms to control the full payment stack, own the customer experience, easily sign up and pay out users, and expand into new markets.
GoFundMe, the world's largest personal fundraising platform, has partnered with Adyen, using Adyen for Platforms to provide the best possible payments experience for over 40 million donors and campaign organizers across Europe and the United States.
Online platforms dominate the ecommerce landscape. Nearly 40 percent of shoppers start there, and 97 percent of U.S. shoppers consistently use platforms for online shopping. As platforms continue to rise in popularity globally, they are increasingly faced with payments challenges, driven by complex requirements for the platform model. In order to successfully scale, they require the ability to quickly sign up and settle funds to users.
GoFundMe has become the number one crowdfunding and fundraising platform in the world, raising more than $4 billion in donations. The company is leveraging Adyen for Platforms, which will allow users to donate to both local and global merchants with a variety of currencies, all securely and seamlessly, and increase the speed in which fundraisers collect donations. The partnership will also provide additional support for GoFundMe's future global expansion.
"With the introduction of Adyen for Platforms, Adyen is bringing much-needed simplicity to platforms," said Sam Halse, chief operating officer at Adyen. "As platform and payments experts, we've built Adyen for Platforms to reduce the friction around signing up a user while handling the complexities around payments so platforms can focus on what matters: growing their business. We are excited to partner with fast-growing global companies like GoFundMe to take away the headache of screening users that so many large platforms face today."
"GoFundMe's focus is on making giving and receiving donations fast, easy, and effective for our global community," said Hoang Vuong, COO and CFO of GoFundMe. "Adyen is helping us do just that with Adyen for Platforms."
Adyen for Platforms caters to platforms by offering a scalable solution that enables them to operate both domestically and internationally, as well as providing managed compliance that reduces friction by ensuring platforms stay out of the money flow in markets where regulators require this. Adyen for Platforms is helping leading platforms improve global payments in the following ways:
Automated Sign Up in Seconds – Adyen performs automated screening to verify individual users, which allows them to immediately start selling in the platform.
Easily Split Funds – For each payment, Adyen for Platforms is able to split funds between one or more users and deduct different costs for the platform, including commission, platform usage or payment fees to enable the seamless distribution of funds.
Flexible Payouts – Adyen for Platforms enables scheduled and on-demand payouts directly to users' local bank accounts, no matter where they are. In combination with Adyen's domestic acquiring capabilities, platforms also benefit from Adyen's robust global coverage.
Fully Compliant Solution – Adyen adheres to PSD2, a payments directive for the European Union, which means Adyen for Platforms has all the tools to make regulations and scheme standards easier, even when expanding globally.
Adyen also works with leading platforms such as Etsy, Delivery Hero, BlaBlaCar and Not On The High Street. For more information on Adyen's unified platform solution, visit our platforms page.
Adyen (AMS: ADYEN) is the payments platform of choice for many of the world’s leading companies, providing a modern end-to-end infrastructure connecting directly to Visa, Mastercard, and consumers' globally preferred payment methods. Adyen delivers frictionless payments across online, mobile, and in-store channels. With offices across the world, Adyen serves customers including Facebook, Uber, Spotify, Microsoft, Casper, Bonobos and L'Oréal.