Dutch global payments platform Adyen announced it is launching card-issuing services to its customers. Adyen Issuing will enable clients to provide customers with virtual and/or physical cards that can be used online, in-app or in-store. The cards can also be integrated into mobile wallets.
“Adyen Issuing gives our clients the ultimate in flexibility,” said Adyen Co-founder and CEO Pieter van der Does in a press release. “It combines issuing and acquiring in a way that helps them create new and better experiences for their customers. It also helps them operationally behind the scenes — from easier reconciliation of funds to reducing the timeline for payouts, to better control over their cash flow. They can offer cards to their customers without needing to go to a third party, eliminating yet another step for them.”
Some of the benefits Adyen Issuing gives to its clients includes a single global platform and advanced API technology, so that clients have control over onboarding, and can customize cards with their branding.
“We’ve been working with Adyen since 2018 to process our customers’ payments, and we are thrilled to expand our partnership to issue cards,” said Glovo’s Global Fraud and Payments Director Florian Jensen. “Adyen Issuing allows us to offer an even easier and smarter buying experience for our customers.”
In August, Adyen showed double-digit percentage gains in volumes, driven by online commerce and increased traction among mid-market firms doing business and taking payments across the globe. Net income was up 92 percent to €92.5 million ($101.9 million USD), while overall value of payments processed was up 49 percent to €104.6 billion, up from the €70 billion seen in the first half of the year.