Adyen expands direct credit card acquiring capabilities

Payments platform Adyen recently announced an expansion of its current payment processing offerings in Singapore via a direct credit card acquiring license for Visa and MasterCard.

This extends Adyen's full stack solution to Singapore, enabling businesses to process transactions and increase opportunities for improved revenue and richer data insights. Adyen also offers on-the- ground expertise, including optimisation of local market conditions, ensuring merchants increase opportunities for conversions.

Warren Hayashi, president, Adyen, Asia-Pacific said: “Adyen was founded on a vision that optimising the payment cycle would lead to greater benefits for merchants and end-customers.”

“Our direct credit card acquiring capability makes it possible for our customers to benefit from the best acceptance and authorisation rates. By owning the entire value chain, Adyen eliminates the need to run payments across multiple third-party platforms. We are better equipped to help Singapore-based businesses achieve complete control of their payment process – optimising revenue, creating a better customer experience and helping companies deal with issues more quickly and efficiently,” he added.

Adyen’s customers include ride-hailing app Grab, beauty store chain Sephora, online grocery store Redmart, group buying platform Fave and bicycle-sharing system oBike.