Amsterdam-based Adyen, a fintech unicorn, announced on Sunday, October 23 that it has launched two new embedded financial products, Capital and Accounts, for platform and marketplace businesses in the US and Europe through Adyen’s single integration.
The announcement comes a few weeks after the launch of its Real-Time Visa Account Updater (VAU) in Europe to help its customers increase revenues and authorization rates from card-on-file payments by automatically updating Visa accounts in real time.
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According to a recent research by the Dutch payment platform and the Boston Consulting Group, 64 percent of small businesses are interested in financial services integrated into a larger platform.
This research indicates a growing demand for platforms that offer a one-stop shop for all their business needs.
To capitalize on this opportunity, the Dutch unicorn has developed a range of financial products that include cash advances, business bank accounts and card issuance.
“Platforms are at the center of a changing financial services industry – and Adyen is poised to drive this revolution forward,” said Adyen co-founder and CEO, Pieter van der Does.
“Embedded Finance is a logical next step after our embedded payment offer. By historically investing in our banking licenses and industry-leading technology, we have positioned ourselves as the only provider to offer a fully embedded financial product suite via a single integration. From this perspective, we are excited to seize the opportunity that banking-as-a-service presents, he adds.
With 94 percent of SMBs interested in cash advance solutions saying they would benefit from pre-approved loans, Capital is proactively enabling platforms to offer business financing based on historical payment data.
With 72 percent of SMBs valuing an integrated bank account experience, Adyen’s Accounts product allows users to run their finances where they do business and get instant access to funds.
Issue, launched earlier this year, completes the offering by enabling users to easily spend their money on platform-branded payment cards.
Adyen: What you need to know
Founded in 2006 by Pieter van der Does and Arnout Schuijff, Adyen is a payment platform that offers end-to-end infrastructure that connects directly to Visa, Mastercard and other payment methods. It offers payment services across online, mobile and store channels.
The company is operational in the Netherlands, Brazil, Singapore, Great Britain, Canada, Australia, South Korea, Hong Kong, Mexico, China, New Zealand, Malaysia, India, Japan and the USA. Their clients include Facebook, Uber, Spotify, Casper, Bonobos and L’Oréal.
In August 2022, Adyen launched its first self-designed terminals. The terminal selection, which runs on Adyen’s single platform, was developed to support a range of payment cases and is the latest development in Adyen’s commercial offering.
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