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Adyen grows with 80 percent its payment volumes in 2016

Thursday 9 February 2017 | 11:18 AM CET

Adyen, a fintech company, has reported 80% increase in 2016 payment transaction volumes to USD 90 billion due to some global online players and expansion in Asia and the Americas.

The Dutch company handles cross-border payments for Uber, Spotify, Airbnb, and Booking.com, advertising for Facebook and Twitter and ads and subscriptions for LinkedIn, in.reuters.com reports.

It is expected growth in 2017 to be driven by its new in-store payment systems as well as by clients preparing for major changes in European payment regulations expected in early 2018.

Adyen's expansion beyond online payment processing to in-store payment systems contributed around 5 to 10% of 2016 transaction volumes.

More than 1,400 stores in Europe and the US now use its point-of-sale systems, with clients including fashion retailers Burberry and Tory Burch and cosmetics brand L'Oreal.

The European Commission's forthcoming Payment Services Directive 2 (PSD2), set to come into force in early 2018, is set to open up competition in the payments industry.

It is also expected to put pressure on merchants to strengthen customer security protections, which could play to Adyen strengths.

Half of its 2016 payment volumes came from Europe and 20 percent from the United States.

Adyen enjoyed strong growth in Asia including Indonesia, the Philippines, Singapore, Australia, Brazil, Mexico and the US.

The Amsterdam-based company was last valued at USD 2.3 billion in 2015. Adyen has no plans to raise new capital and is in no rush for a stock market listing in 2017.

For more information about Adyen, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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