Adyen
Adyen is a Dutch payment company that allows businesses to accept e-commerce, mobile, and point-of-sale payments. It is listed on the stock exchange Euronext. Adyen offers merchants online services for accepting electronic payments by payment methods including credit cards, bank based payments such as debit cards, bank transfer, and real-time bank transfers based on online banking. It connects to payment methods around the world, including international credit cards, local cash-based methods, such as Boleto in Brazil, Internet banking methods, such as iDEAL in the Netherlands, and mobile payment methods, such as Blik in Poland . The technology platform acts as a payment gateway, payment service provider and offers risk management and local acquiring. The Adyen payment process starts at the POS terminal of a retailer; then the payment passes through a payment processing and risk management system to avoid fraud; afterwards the credit card network is used; and finally the transaction arrives at the customer’s bank. If the payment is verified, a confirmation is sent back to the POS terminal through the various stages. History. Adyen was founded in 2006 by professionals with previous payment industry experience (the core management team previously worked at  Bibit and with each other for around twelve years), including Pieter van der Does and Arnout Schuijff, now the CEO and CTO respectively. Headquartered in Amsterdam, the company employs around 2,000 people in offices in twenty three countries. The name Adyen means 'start again' in Sranan Tongo. This is a reference to this being the second project of the founders, after Bibit. In 2012, Adyen started to expand globally, opening its offices in San Francisco, Paris, and London. In the same year, it obtained its pan-European acquiring license. In 2015, Adyen achieved a valuation of $2.3 billion, making  it the sixth largest European unicorn. In 2016, it obtained an acquiring license in Brazil through a BIN sponsorship. In the same year, Adyen was ranked #10 on the Forbes Cloud 100 list. In April 2017, the company was granted a European banking license, which gives it the status of an acquiring bank. It also obtained acquiring licenses in Singapore, Hong Kong, Australia, and New Zealand. On 24 May 2018, the company announced that it would be making the company public by listing shares publicly in Amsterdam. The IPO took place on 13 June 2018. In 2019, Adyen opened new  offices in Tokyo and Mumbai, and expanded its payment offering in Africa. In the same year, it launched Adyen Issuing, a virtual and physical card-issuing business to complement payments services to merchants. In 2020, the company benefited from an accelerated digitalization of global ecommerce in the online retail segment, which compensated the declining travel volumes in enterprises, due to the COVID-19 pandemic. It launched mobile Android POS devices worldwide in the second half of the year. In addition, it opened a new office in Dubai, expanding its offering in the Middle East. Growth. The company has been profitable since  2011. Its earnings grew from $46 million in 2015 to $87 million in 2016. Its gross revenue grew 99 percent in 2016 to $727 million. In December 2014, the company announced a funding round of $250 million led by growth equity firm General Atlantic, joined by existing investors Temasek Holdings, Index Ventures, and Felicis Ventures. In 2016, the company saw transaction volume increase to $90 billion, up from $50 billion in 2015. In 2017, Adyen surpassed EUR 100 billion in processed volume. On January 31, 2018 eBay announced that it had signed an agreement  with Adyen to become its primary payments processing partner. eBay began intermediation on a small scale in North America starting in the second half of 2018, expanding in 2019 under the terms of the operating agreement with PayPal. In 2021, eBay transitioned a majority of its marketplace customers to Adyen. In 2020, Adyen had a net revenue of EUR 684 million, a 28% increase year-on-year. In 2021, net revenue hit EUR 1 billion.