Adyen Review

Headquartered in Amsterdam, Adyen is a merchant account provider that offers online, mobile, and in-person international payment processing. The company prominently advertises interchange-pluspricing. 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.

Ayden BBB Rating

Adyen currently has an “F” rating with the BBB and has received 6 complaints in the past 36 months. 1 of these 6 complaints was resolved by the company to the satisfaction of the client. The remaining complaints were resolved to the dissatisfaction of the client or received no final response.

There have been no informal reviews against the company in the last 3 years, though there was 1 negative review added to the company’s profile previously. The review detailed a client who was refused service:

Adyen is adverse to taking on high-risk clients, as reflected by the company’s policy to reserve the right to cancel accounts based on excessive chargebacks. Businesses facing this predicament can benefit from researching which services are better suited for high-risk merchants.

An “A” Performance

Given the size of the company and the fact that Adyen has only received a small number of complaints to its BBB profile, we have adjusted the BBB’s rating to an “A.” However, readers should be aware that there are good reasons to view the BBB’s information with skepticism.

Trustpilot Rating for Adyen

Adyen has a 1.3 out of 5 star rating based on 335 user reviews on Trustpilot.

Adyen Pricing Structure

Adyen’s pricing model is structured based on the currency and card network. Each transaction incurs interchange costs plus a $0.13 processing fee. For Visa and MasterCard payments, the company employs interchange-plus pricing, while American Express and Discover Card payments are charged at 3.95% plus $0.13 per transaction. Transactions via Google and Apple Pay incur an additional $0.13 fee on top of the respective digital wallet rates. Account holders must meet a monthly minimum of either $120 or 1,000 transactions.

For ACH transfers, Adyen charges $0.27 each, UnionPay at 3% plus $0.13 per transaction, and Paysafecard payments at 10-12%, varying by industry. Adyen’s contract is open-ended, requiring two months’ written notice for termination, with some conditions allowing immediate cancellation. The company’s terms do not explicitly mention an early termination fee or PCI compliance fee, though this doesn’t guarantee their absence.

Virtual Terminal and Payment Gateway Pricing

Adyen extends its services to include a virtual terminal and payment gateway, applying its standard pricing schedule to online payments. It remains unclear whether additional costs such as gateway fees, technical support fees, or batch fees are applicable to its e-commerce services.

Discontinued mPOS

Adyen previously offered a mobilePOS solution named “Shuttle,” priced at €99 for purchase and €10 monthly, but this service no longer seems to be featured. Instead, the company now provides various EMV/NFC countertop terminals, reflecting its expansion in the POS hardware market.

Industry-Average Terms

Adyen’s publicly disclosed rates align with industry standards for the services offered. No prevalent complaints have been found about excessive fees charged by Adyen. Given this, an “A” rating is appropriate at this time. However, businesses are encouraged to compare Adyen’s rates with those of more affordable merchant account providers. For detailed terms, see Adyen Terms and Conditions.

No Sales Complaints

Adyen primarily markets itself through web-based advertising and strategic partnerships. There is no indication at this time that the company employs independent sales agents or engages in telemarketing campaigns, and there are also no Adyen complaints that accuse the company’s representatives of misrepresentation or nondisclosure.

No Deceptive Quotes

Adyen’s official materials do not list any “teaser” quotes, and its official pricing sheet and terms and conditions appear to outline all of the important contract terms in plain language. We therefore award the company an “A” rating at this time, but if you suspect that Adyen is charging you undisclosed fees, we recommend seeking a third-party statement audit to find and eliminate hidden charges.

Adyen stands out as a robust and efficient international credit card processing solution suitable for a variety of merchant types. With ambitious growth plans and established banking relationships, the provider claims to offer truly global payment acceptance. This expansive reach makes Adyen an attractive option for businesses seeking seamless international transactions.

Despite its low complaint rate and apparently transparent contract terms, it’s crucial for business owners to thoroughly understand Adyen’s fund-holding policies and customer support system before committing. Being well-informed about these aspects ensures businesses are prepared for potential challenges and can address any issues swiftly. Additionally, prospective clients should compare Adyen’s services against those of other top-rated payment processors to determine where the best value lies and which solution best aligns with their global transaction needs.