Adyen, an Amsterdam-based payments company, is bringing its point-of-sale solution for merchants to the U.S.
The company, which powers eCommerce payments for major tech companies, like Facebook, Uber and Netflix, announced yesterday (Jan. 14) that it was offering the solution in the States for the first time. What that means is that businesses in the U.S. can now sync their point-of-sale, online and mobile purchases in a single, EMV-compliant payments solution.
Adyen’s solution is particularly relevant as an omnichannel payments platform that links eCommerce and POS terminals through a single dashboard. Its platform offers these perks for merchants: enabling the ability to buy online and pick up in store; enabling in-store customers to make an online purchase when an item is out of stock at the physical store; and enabling online shoppers to return items in store.
“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$22 trillion retail industry has been on the verge of delivering a true omnichannel shopping experience for years, but outdated and siloed payment systems have been in the way,” said Pieter van der Does, cofounder and CEO of Adyen.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.”
Adyen’s merchant POS solutions allow stores to accept all major card brands in both the U.S. and Europe, including Visa, MasterCard, American Express, Discover, Diners, UnionPay and JCB, as well as other U.S. debit payment methods, including Pulse and Star.
Also announced this week were financials on the company, which included the news that Adyen processed $50 billion in transaction volume in 2015 and hit a revenue of $350 million. Both of these data points increased by 100 percent from the year prior.
Still, the company is steering clear of the IPO market — at least for now. The company still has $250 million in its back pocket that was raised from investors, Bloomberg reported. The latest reported valuation is $2.3 billion. Adyen competes in the merchant POS market against Square, Stripe and PayPal’s Braintree.
“We have the luxury where we don’t need to raise or go public,” van der Does told Bloomberg. “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.”