Adyen is underrated FinTech Giant. But that might change soon 👀; Can credit cards be cool again? Yonder thinks so 😎; Slice wants to shake up India’s digital payments market & become a Super App 📲
Good Morning FinTech, 4 April
Good day Everyone,
And happy start to the new week! 🥂 I hope you managed to relax over the weekend because Monday begins with hot things in FinTech. So without further ado, here are 3 super interesting stories I’ve prepared for you today:
Adyen is an underrated FinTech Giant. But that might change soon 👀
The news 🗞 When you think about online payments or payment processing, you usually think about Stripe, the $95 billion FinTech behemoth that is taking the world by storm. As of recently, you might have started to think about Checkout.com too, which earlier this year has hit a $40 billion valuation.
But there’s another payments heavyweight that is for some reason forgotten (at least for the general public), yet has been making tons of money, is profitable for years, and soon might become an even bigger force in FinTech. It’s the Dutch payments giant Adyen.
It has just announced its expansion beyond payments to build embedded financial products. And this is a huge move.
More on this 👉 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. Here’s what is known thus far:
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.
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.
Among the products that will be built out are multi-currency accounts, allowing users to receive payments, initiate payouts, 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.
These and earlier launched solutions are all part of Adyen’s plans to dominate the world of payments, and maybe - the world of finance. Here’s the takeaway: