Adyen: What Businesses Need to Know Before Signing Up

Headquartered in Amsterdam, Adyen is a merchant account provider that offers online, mobile, and in-person international payment processing. The company prominently advertises interchange-plus pricing. The service claims that it was founded in 2006 and that it is a direct global processor with Visa and MasterCard that can process and settle payments in any country or currency. In December 2014, Adyen raised $250 million in venture capital to expand its payments platform. As of February 2017, it claimed to process more than $90 billion internationally per year resulting in revenues reaching $727 million. In February 2018, the online marketplace eBay announced plans to gradually replace its default payment processor PayPal with Adyen over the next three years, and the process is already underway. Adyen is partnered with numerous acquiring banks in order to process payments internationally and claims to be a direct processor.

Payment Processing

Adyen processes major debit and credit cards for a variety of business types. Their services include mobile payments, POS solutions, EMV readers, data reporting and analytics, payment gateways, virtual terminals, card issuing, and fraud and chargeback protection.

Online Payments

Adyen offers a range of online payment options, including credit cards, e-wallets, and bank transfers. Their platform supports multiple currencies and is designed for international transactions.

Mobile Payments

Adyen supports mobile platforms, facilitating in-app payments. This feature allows businesses to accept payments through mobile applications.

Risk Management Features

Adyen integrates risk management features into its payment platform, including fraud prevention measures that analyze payment data to detect potentially fraudulent activities.

Unified Commerce Platform

Adyen’s Unified Commerce Platform enables businesses to track customer transactions across different sales channels, from online to in-store, on a single dashboard.

Subscription Billing

Adyen offers subscription billing services that automate recurring payments, allowing businesses to easily set up and manage subscription models.

Payout Services

Adyen provides payout services, enabling businesses to send funds to customers or between accounts, commonly used for refunds, prize money, or remittances.

Local Payment Methods

Adyen supports a wide array of local payment methods, beneficial for businesses expanding internationally, as it allows them to accommodate local payment preferences.

Moderate Complaint Volume

We have found only a handful of negative Adyen reviews across various consumer protection websites, with none accusing the company of fraudulent practices. Feedback from users includes concerns about customer service quality, particularly for larger or rapidly growing businesses, along with issues like fund-holds and fraudulent transactions. While Adyen generally receives positive feedback from its employees on Glassdoor.com, its mobile app ratings are average, scoring 3.5 out of 5 on the Google Play Store and 3.7 out of 5 on the iTunes App Store.

Adyen Legal Issues

While there are no outstanding class-action lawsuits or FTC complaints against Adyen, the company faced legal scrutiny in 2023 related to its access to FedNow, the Federal Reserve’s new 24-hour payment system. A lawsuit filed by Caitlin Long, CEO of Custodia Bank, questions Adyen’s entry into the system and accuses the Federal Reserve of misapplication of the law. This case, while not directly impacting customers, warrants monitoring. Clients seeking alternative resolution avenues can consider reporting concerns to relevant supervisory organizations.

Adyen Customer Support Channels

Adyen offers phone numbers for its offices but primarily directs clients to its email ticketing system for support. While this setup may suit some users, others may prefer more immediate assistance. Currently, Adyen’s support channels operate at a standard comparable to top-rated credit card processors for customer support.