Published: 23/06/2016 - Updated: 23/06/2016 - Tags: Payment Methods
Adyen is a Dutch global payment company that serves as a payment outsourcing agency for ecommerce companies of medium to large size. Companies that outsource their payments to Adyen are able to accept payment from users around the world via a special payment portal placed on the client’s webpage.
At the time of this writing, Adyen services over 3,500 customers located around the world. Adyen has seen rapid growth in recent years. The Dutch payment company reported 100% growth in 2014, along with a 40% increase in new customers. The following year, Adyen reported over $130 million in profits.
The History of Adyen
Adyen was developed and launched by a team of Dutch entrepreneurs in 2006. The team had previous experience in the electronic payments industry with a similar company called Bibit. The company was located first in Amsterdam, but has now expanded to employ over 250 individuals that work at offices in ten different countries.
It was only a mere eight years later that Adyen would process $25 billion in total payments, an impressive 80% more than the previous year. Adyen executives consider 2014 to be the exclamation point on an already impressive period of double-digit growth that the company has been experiencing since 2007.
In 2015, Adyen was valued at $2.3 billion, making it one of the most successful European startups of the last decade.
Adyen offers three different ways for its clients to receive payment-- “traditional” online sales from a desktop or laptop, mobile payments from a smartphone or tablet and point of sale terminals for retail locations.
adyen Online Payments
Adyen provides ready-made payment solutions that can be quickly and easily implemented on the client’s webpage. This standard payment solution is hosted on Adyen’s servers and allows for vendors to accept over 250 different payment methods.
Alternatively, clients can choose to create or maintain their own payment pages by using Adyen API integration. In the event that a client opts for API integration, the client must be able to pass strict PCI security standards audits as all customer data will be routed through the client’s servers.
Adyen Mobile Payments
Adyen offers one-touch payment on mobile devices to streamline the payment process. If the customer so chooses, payment information can be saved to enable this one touch feature. Client’s don’t need to worry about storing the data of customers that use this feature-- all data storage is done securely on Adyen’s servers.
Adyen Point of Sale
Adyen offers a number of point of sale terminals for its clients to use. Clients can choose from traditional countertop terminals, wireless points of sale and in-store kiosks. Clients can choose which of these retail payment methods makes most sense for their business. Each of these terminals offers currency conversion, so clients can accept a wide variety of payment methods if they so choose.
Adyen currently complies with PCISSC standards version 3.1. This version of security standards that companies processing transactions over the Internet use TLS 1.2 to protect sensitive consumer information. Adyen is not only operating under these security standards, but also supports this strong level of encryption for its clients. At the present time, Adyen also supports earlier versions of TLS. However, this support will be discontinued by April 2018. All clients of Adyen most upgrade to the new security standards issued by PCI before this date.