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Bitcoin Accepting Payment Platform Adyen Doubles in Revenue

Avatar Joseph Young 4 years ago

Bitcoin accepting Amsterdam-based payments technology provider Adyen BV has expanded their next generation point of sale solutions to U.S merchants, after the firm reported its doubled annual revenue in 2015.

Adyen is a leading payments company that powers e-commerce payments globally for businesses such as Facebook, Uber and Netflix. The company has also began to provide a mobile-payments tool for multi-billion dollar businesses such as Uber and Airbnb, two venture-backed companies which skyrocketed in value over the past few years.

As the clients of Adyen began to grow in size, the processing volume of Adyen began rising exponentially, with annual transaction volume reaching $50 billion last year. The success of its clients led to the unforeseen surge in revenue, which totaled US$350 million in 2015.

To maintain its financial momentum, Adyen announced their plans to target U.S. retailers with point of sale, online and mobile purchases in a single, EMV-compliant solution. Adyen’s omnichannel solution which allows retailers to connect ecommerce and point of sale terminals in a single dashboard to benefit from many cost-effective and time-saving solutions.

The Adyen team provides the following solutions that could be implemented by today’s retail giants operating in the U.S.

  • The ability to buy online and pick up in-store
  • Enabling in-store shoppers to order out of stock items online
  • Making it possible for online shoppers to return items in-store (and vice versa) – leading to lower levels of return fraud and greater cross-selling opportunities.

“The $22 trillion retail industry has been on the verge of delivering a true omnichannel shopping experience for years, but outdated and siloed payment systems have been in the way,” said Pieter Van der Does, co-founder and CEO of Adyen. “With Adyen’s omnichannel solution, forward-looking retailers will have the platform they need to surprise and delight shoppers with new experiences that also grow their revenue.”

If the firm successfully secures multiple partnerships with the country’s leading retail outlets and operators, Adyen maybe achieve another financial milestone by the end of 2016. Because of such opportunities and potential, Adyen co-founder and CEO Pieter van der Does explains that the company currently has the choice not to gear towards an IPO.

“We have the luxury where we don’t need to raise or go public,” said Pieter van der Does, Adyen’s co-founder and chief executive officer. “We are different from many other unicorns in that we are profitable. What is happening around venture capital and private equity doesn’t affect us.”

Adyen, in the extremely competitive market of the payment processing industry is one of the few companies that are actually driving high profit margins. Since many firms are trying to lower their transaction fees and operating costs to allure mainstream merchants and clients, only established venture-capital backed companies are surviving in the industry.

More importantly, if Adyen successfully integrates its software in leading retail outlets, mainstream Bitcoin users will be able to spend the digital currency at ease, with a robust yet simple platform. Although it is still unsure if the partnering retail corporations will implement Adyen’s bitcoin processing technology, Adyen’s expansion surely creates another market for Bitcoin to capitalize on.

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