Adyen, a global payments platform specializing in enterprise solutions, announced a new “card issuing” service in a press release. According to the statement, the program will expand the company’s offerings to include “end-to-end” service by providing both physical and virtual cards to customers. Possible uses include in-store, online, application payments, and mobile wallets.
In the release, co-founder and CEO Pieter van der Does emphasized the decision to issue cards will provide flexibility to Adyen’s customers. Specifically, it will make it easier for merchants to offer better customer experiences by keeping all payment operations under a single roof.
“Adyen Issuing gives our clients the ultimate in flexibility,” Van der Does said. “It combines issuing and acquiring in a way that helps them create new and better experiences for their customers. It also helps them operationally behind the scenes — from easier reconciliation of funds to reducing the timeline for payouts to better control over their cash flow. They can offer cards to their customers without needing to go to a third party, eliminating yet another step for them.”
In addition to the customer service benefits, the ability to provide end-to-end gives merchants the ability to decrease the number of points of contact required to process transactions. By shorting the requirements, merchants can reduce the risk of fraud. Containing payments transactions entirely within their own processes will allow merchants to make smarter fraud decisions, as well as decrease opportunities for fraudsters to steal data.
“We’ve been working with Adyen since 2018 to process our customers’ payments and we are thrilled to expand our partnership to issue cards,” said Florian Jensen, Glovo’s Global Fraud & Payments Director. “Adyen Issuing allows us to offer an even easier and smarter buying experience for our customers.”
Sources:
https://www.adyen.com/press-and-media/2019/adyen-launches-card-issuing-offering