The Dutch payment group Adyen, Wednesday March 30 spear a suite of integrated financial products that will enable platforms and marketplaces to create bespoke financial experiences for their users, including small business owners and individual traders.
According to a press release from the company, Adyen’s integrated financial products will enable platforms to access new sources of revenue and retain users.
“By building our banking infrastructure, as part of the single platform, from the ground up, we are removing the limitations of legacy financial systems, enabling Adyen to deliver the power of a bank combined with the adaptability of a FinTech,” said Thomas RuiterVice President of Banking and Financial Products at Adyen.
“This unique approach means we can offer our platform customers unparalleled flexibility to meet the changing needs of their user base without the hurdles of regulatory complexity, lengthy product development or sponsor bank restrictions. “, he continued.
The company said its Adyen for Platforms has long enabled platforms to integrate payments into their offerings for a unified commerce experience across sales channels and geographies. Adyen launched Issuing to enable platforms to offer its users virtual and physical cards for commerce transactions and get their money faster.
The show will now be included in a suite of integrated financial products, including multi-currency accounts, which allow users to receive payments, initiate payments and store money in one place.
“We view this step in building our fintech platform as a natural evolution of our business,” said Pieter van der Does, CEO and co-founder of Adyen. “We are developing these products to help companies achieve their ambitions faster.
“For platform companies, this means we empower them to become a one-stop-shop for all their user needs. We are uniquely positioned to help them here, by combining our technology with our licensing framework. »
Related: Going digital increases Adyen Payments Group’s transaction volumes by 70%
In February, the Financial Times reported that Adyen had seen 70% growth in transactions last year, boosted by the digital shift spurred by the COVID-19 pandemic. Adyen works with other payment companies and merchants, including Uber, LinkedIn, Spotify and Microsoft.