In a move
to “simplify payments”, the financial technology platform Adyen, has announced that
it is expanding its partnership with Klarna, an AI-powered global payments
network. The two companies have worked together for over 10 years, with Adyen
offering Klarna’s payment methods to its merchant customers.
Under the
new strategic partnership, Adyen will begin serving as the acquiring bank for
Klarna’s various consumer payment offerings, starting in Europe, North America,
and Asia in 2024. As the payment provider, Adyen will help simplify card
payments for Klarna’s 150 million consumers and 500,000 merchant partners
globally.
“Adyen’s
financial technology platform combined with Klarna’s various consumer offerings
will raise the standard of payments and consumer experiences worldwide,” Pieter
van der Does, the Co-Founder and Co-CEO of Adyen, commented:
Klarna’s
payment options include interest-free “Pay Now and Pay Later”
installment plans. By leveraging Adyen’s acquiring capabilities, the
partnership aims to raise the standard for payments
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
Read this Term and consumer experiences
worldwide. The company earned $1.85 billion from its operations in 2022, which
translated to a 21% increase compared to the previous year.
Adyen is a
Dutch publicly-listed payments firm offering financial technology to companies
worldwide, including big names like Microsoft, Uber or Meta. Despite a fivefold
revenue drop in H1 2023, the company was able to report a higher net income of $283.17
million.
“Adyen aligns
seamlessly with Klarna’s role as the preferred payments network and shopping
assistant for consumers and retailers worldwide,” Sebastian Siemiatkowski, the CEO
of Klarna, added.
Adyen’s UK Banking License
and Valuation Drop
In September,
Adyen obtained a banking license in the United Kingdom. This strategic move
marks Adyen’s foray into the banking industry and enables the firm to offer
financial support to small and medium-sized enterprises in the UK.
Additionally, the license ensures that Adyen can maintain its operations in the
UK under the Temporary Permissions Regime following Brexit.
Adyen is
already established as an acquiring bank in the Netherlands, holding a banking
license that allows the company to process merchant payments directly. This
capability streamlines the settlement
Settlement
Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer’s name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2
Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer’s name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2
Read this Term process, which typically requires several
days when involving banking partners.
In a
related financial update, Adyen experienced a downturn in its stock value
following the release of financial results that fell short of investor
expectations. As reported by Finance Magnates in August, this downturn led
to a substantial decrease in the company’s valuation, with a loss of $20
billion in a single day. Continuing this trend, Adyen’s share prices have
further declined, reaching levels last seen during the pandemic lows of April
2020.
In a move
to “simplify payments”, the financial technology platform Adyen, has announced that
it is expanding its partnership with Klarna, an AI-powered global payments
network. The two companies have worked together for over 10 years, with Adyen
offering Klarna’s payment methods to its merchant customers.
Under the
new strategic partnership, Adyen will begin serving as the acquiring bank for
Klarna’s various consumer payment offerings, starting in Europe, North America,
and Asia in 2024. As the payment provider, Adyen will help simplify card
payments for Klarna’s 150 million consumers and 500,000 merchant partners
globally.
“Adyen’s
financial technology platform combined with Klarna’s various consumer offerings
will raise the standard of payments and consumer experiences worldwide,” Pieter
van der Does, the Co-Founder and Co-CEO of Adyen, commented:
Klarna’s
payment options include interest-free “Pay Now and Pay Later”
installment plans. By leveraging Adyen’s acquiring capabilities, the
partnership aims to raise the standard for payments
Payments
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl
Read this Term and consumer experiences
worldwide. The company earned $1.85 billion from its operations in 2022, which
translated to a 21% increase compared to the previous year.
Adyen is a
Dutch publicly-listed payments firm offering financial technology to companies
worldwide, including big names like Microsoft, Uber or Meta. Despite a fivefold
revenue drop in H1 2023, the company was able to report a higher net income of $283.17
million.
“Adyen aligns
seamlessly with Klarna’s role as the preferred payments network and shopping
assistant for consumers and retailers worldwide,” Sebastian Siemiatkowski, the CEO
of Klarna, added.
Adyen’s UK Banking License
and Valuation Drop
In September,
Adyen obtained a banking license in the United Kingdom. This strategic move
marks Adyen’s foray into the banking industry and enables the firm to offer
financial support to small and medium-sized enterprises in the UK.
Additionally, the license ensures that Adyen can maintain its operations in the
UK under the Temporary Permissions Regime following Brexit.
Adyen is
already established as an acquiring bank in the Netherlands, holding a banking
license that allows the company to process merchant payments directly. This
capability streamlines the settlement
Settlement
Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer’s name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2
Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer’s name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2
Read this Term process, which typically requires several
days when involving banking partners.
In a
related financial update, Adyen experienced a downturn in its stock value
following the release of financial results that fell short of investor
expectations. As reported by Finance Magnates in August, this downturn led
to a substantial decrease in the company’s valuation, with a loss of $20
billion in a single day. Continuing this trend, Adyen’s share prices have
further declined, reaching levels last seen during the pandemic lows of April
2020.