Adyen | Global Financial Technology Platform | Pieter van der Does

Adyen | Global Financial Technology Platform | Pieter van der Does

Pieter van der Does

Co-founder / CEO

Adyen (AMS: ADYEN), the global financial technology platform of choice for leading businesses, and Etsy, which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, announced today that Adyen has enabled ten million Etsy buyer donations to the Uplift Fund, administered by the Brooklyn Community Foundation.

Etsy launched the Uplift Fund with the Brooklyn Community Foundation in February of 2021 to give its buyers an opportunity to join them in supporting creators who face barriers to building successful businesses. When US shoppers check out on Etsy, they have the option to round up their purchase price and donate to the Fund via Adyen.

“Adyen’s solution has enabled us to seamlessly engage the Etsy community in supporting our Uplift Fund,” said Morgan Blake, VP of Payments at Etsy. “It’s been amazing to see how a small change in checkout can have such a major impact, especially as the past few years have highlighted the gap in resources available to many communities who are eager to use their entrepreneurial talents.

“Partnerships like this one with Etsy and Adyen encourage and simplify the process for people to give to charitable causes. That’s what we’re seeing here, with the remarkable milestone of reaching 10M buyers,” said Jocelynne Rainey, President and CEO, Brooklyn Community Foundation. “We are thrilled to host Etsy’s donor advised Uplift Fund to support nonprofits nationwide that work to dismantle barriers to building a successful small business.”

“We’ve seen great traction with Giving and we are thrilled to reach this milestone with Etsy,” said Ingo Uytdehaage, CFO at Adyen. “Etsy has been a key partner in building out our Giving solution, including the round-up feature. By combining strengths with Adyen’s technology and Etsy’s two-sided marketplace, we were able to come together to find a solution that drives impact, in line with the UN’s Sustainable Development Goals. We can’t wait to see what else we accomplish together.”

Giving is a product that enables Adyen’s merchants to accept charitable donations during the online and in-store checkout process, and allows them to strengthen their bond with their shoppers by providing a platform for their preferred charitable causes. By doing so, Giving converts shoppers’ good intentions into additional revenue streams for charitable causes. With a single tap on a point-of-sale terminal or the click of a button at an online checkout, shoppers can donate to the merchants’ charity of choice. Giving transactions seamlessly integrate into existing checkout processes across all payment channels, and shoppers’ donations are reported and settled to the charity of choice directly without impacting the merchants’ existing reconciliation flow.                                                       

Adyen is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Facebook, Uber, H&M, eBay, and Microsoft. The cooperation with Etsy as described in this merchant update underlines Adyen’s continuous growth with current and new merchants over the years.      

Adyen has been chosen by Fast Retailing, operator of UNIQLO, to power payments for the brand’s in-store and online checkout in multiple markets. The integration with Adyen removes the need for multiple supplier contracts, allowing UNIQLO to easily consolidate and reconcile payments information across multiple channels. This single platform gives UNIQLO the flexibility to do faster rollouts of omnichannel services.    

“We’re pleased to enable Fast Retailing in implementing a truly customer-centric structure that uses innovation to provide a great UNIQLO experience,” said Pieter van der Does, co-founder and CEO of Adyen. “It’s exciting to shop in a UNIQLO store in Amsterdam and know you’ll have the same checkout experience in other markets. We’re excited to enable Fast Retailing in using innovation to offer a truly customer-centric omnichannel experience that underscores the exceptional service shoppers have come to expect from the UNIQLO brand.”

The company and McDonald’s Corporation announced the expansion of their mobile app partnership to the U.S. The two companies began working together in early 2020 in the U.K. and are now expanding to other markets globally.

“As consumer demand evolves, Adyen has responded to our needs in a rapidly changing market,” said Whitney McGinnis, U.S. CIO at McDonald’s. “Adyen has handled mobile volumes during peak events, such as promotions and rush times. Additionally, they helped improve the success rate for customers registering their preferred payment types to their digital profile and reduced card declines during order placement by using Real-time Account Updater technology. We look forward to where we take the partnership next.”

McDonald’s has always focused on serving customers, and that includes offering their preferred payment methods with Adyen in several markets across the globe. For example, loyalty customers are able to pay with their saved payment method on the McDonald’s mobile app at the front counter, kiosk, or drive-thru using a four-digit code which provides convenience and supports operational speed.

Adyen also recently announced its expansion beyond payments to build embedded financial products. These products will enable platforms and marketplaces to create tailored financial experiences for their users such as small business owners or individual sellers. The suite of products will allow platforms to unlock new revenue streams and increase user loyalty.

“We see this step in building out our financial technology platform as a natural evolution of our business,” said Pieter van der Does, CEO and co-founder at Adyen. “We’re building these products to help businesses achieve their ambitions faster. For platform businesses this means we empower them to become a one-stop shop for all their users’ needs. We’re uniquely positioned to help them here, combining our technology with our licensing framework.”

Starting with Adyen for Platforms, the company enabled platforms to embed payments into their offering and deliver a unified commerce experience across sales channels and geographies. Over time, working with platforms surfaced the need for more control over the payout experience. Adyen then launched Issuing to improve this experience by enabling platforms to offer their users virtual and physical cards for business transactions and to directly receive funds faster.

Going forward, Issuing will be included in a full suite of embedded financial products, as platforms have highlighted the need to reduce other financial complexities for their users too. Among the products that will be built out are multi-currency accounts, allowing users to receive payments, initiate pay outs, and safely store money all in one place. These accounts will also enable platforms to facilitate the extension of financing to their users within the platform interface. Due to Adyen’s data-driven risk-scoring capabilities, these financing offers are pre-qualified and require no additional checks on the user end. This will enable platforms to solidify their relationships with their users, while also providing a traditionally underbanked segment, namely small business owners, with the funds needed to build their businesses.

Adyen’s complete suite of embedded financial products paired with payments allows platforms to centralize their users’ finance needs in a single ecosystem.

Adyen Award

Adyen is the financial technology platform of choice for leading companies

Pieter van der Does

Co-founder / CEO