Adyen, an Amsterdam-headquartered international payments platform, announced new embedded financial products on Thursday.
According to the press release, platforms and marketplaces will be able to create tailored financial experiences for their users, such as small business owners and individual sellers using these products. Additionally, with the suite of products, platforms will be able to unlock new revenue streams and increase user loyalty.
“By building our banking infrastructure, as a part of the single platform, from the ground up, we remove the limitations of legacy financial systems, enabling Adyen to deliver the power of a bank combined with the adaptability of a fintech . This unique approach means we can offer our platform customers unparalleled flexibility to meet the evolving needs of their user base without the barriers of regulatory complexity, lengthy product development, or sponsor bank restrictions,” Thom Ruiter, the VP of Banking and Financial Products at Adyen, commented.
Through Adyen for Platforms, the company enabled platforms to embed payments into their offering and deliver a unified commerce experience across sales channels and geographies. Adyen launched Issuing to improve this experience by allowing platforms to offer their users virtual and physical cards for business transactions and to receive money directly.
"We see this step in building out our financial technology platform as a natural evolution of our business. We're building these products to help businesses achieve their ambitions faster. For platform businesses this means we empower them to become a one-stop shop for all their users' needs. We're uniquely positioned to help them here, combining our technology with our licensing framework,” Pieter van der Does, the CEO and Co-Founder at Adyen, pointed out.
Ayden H2 of 2021 Financial Results
In February, Adyen announced its financial results for the second half of 2021. For the reported period, the company posted net revenue of EUR 556.5 million, which is up 47% YoY.
As far as processed volume is concerned, the figure climbed by 72% YoY to EUR 300 billion in H2 of 2021. EBITDA came in at EUR 357.3 million, which is 51% higher compared to the same period last year.
