Adyen Global Acquiring, which provides credit card transaction processing for merchants, said it has expanded its services to Brazil, Hong Kong and Australia. Adyen currently offers its services in the U.S. and Europe.
“The expanded acquiring capabilities mean that merchants with customers in Brazil, Hong Kong and Australia can now also process credit cards locally via Adyen’s platform,” the company said adding that this allows retailers in these countries to eliminate “the need to run payments through multiple third-party acquirers in each region, which often rely on a patchwork of legacy systems that were not designed for the digital age.”
The platform rollout is in line with the company’s long-term goals. Roelant Prins, Adyen’s chief commercial officer, said the company was founded in order “to provide payments technology which maximizes conversion rates and accelerates expansion for global businesses.”
“The only way to truly achieve this is to retain complete control of the payment, from the moment the customer inserts his card or hits ‘pay,’ to settling the amount in the merchant’s account,” Prins said. “Global acquiring is a fundamental part of that process. We don’t do this through acquisition or partnerships; everything that goes on under the hood is 100 percent Adyen.”
“Global acquiring” is a financial term for a bank or institution that processes credit card payments.
In these new markets, the company said it is replacing outdated networks with a new infrastructure, “built from the ground up to handle the entire payment flow, now including direct connections to all card networks on a global scale.” Adyen’s platforms and solutions connects retailers directly with MasterCard and Visa as well as 250 other payment methods around the world. The company is based in Amsterdam and San Francisco and serves more than 4,500 businesses.