Elaborate on the significance of Adyen’s payment platform in a merchant store

When users attempt to make payments at a merchant store or e-commerce website, their data flows through different breakpoints, usually handled by several companies in the process. This model has been the default for over two decades and it is failing for many reasons. So, Adyen built an all-in-one payments solution to ward off any difficulties that either merchants or customers face.

For example, if a merchant sells flowers online, we provide them with the payment gateway, APIs, an anti-fraud solution, the processing solution, and more. This in itself is already a big step up for merchants because we are working end to end to optimize their business.

Could you elaborate on the competitive advantages of using Adyen solutions compared to other platforms in the market?

With end-to-end payments, data, and financial management, we provide customers with best-in-class solutions. Businesses will have lesser breakpoints when they choose to work with Adyen and they will get to know the customer behind each payment. In addition, we offer them efficient risk management to keep fraudsters out of their stores.

Our unique approach helps businesses solve many of their payment challenges. From there, we evolved into the financial technology platform of choice for the world’s leading companies. Adyen’s system is flexible for adjustments and the amount of control we give to the merchants is incredible. Similarly, if we make changes, it reflects everywhere across the platform.

Tell us about how well you could configure Adyen solutions to the existing applications and software the merchants use

Good question.

Global merchants have middleware in their payment structure that can connect to Adyen. Therefore, we can work with multiple applications and customers get to control the entire activity internally alongside hassle-free integration to their existing systems. We also have off-the-shelf integrations that merchants can decide to use, which saves a lot of implementation time. 

What are your stakes in hospitality and mobility solution verticals?

The good thing about the versatility of the Adyen platform is that it can cater to a wide variety of industries. Both of these industries have their specific needs and we use different features and products to help those businesses get better at accepting payments.

When it comes to serving mobility and micro-mobility businesses, we are helping them to keep their customer base accurate while making the sign-up process very smooth and also cutting down on fees, contracts, and partners.

In hospitality, we have a different scenario that includes prompt check-ins and check-outs of guests and payments at restaurants, spas, bars, etc.

Many businesses have very specific payment needs. If you take the example of unmanned gas stations, where users get to pay upfront and fill their vehicles after an approved transaction, it is completely different from what other industries require in terms of payment service.

Adyen commissioned Opinium LLP to poll 1000 consumers and Censuswide to poll 200 businesses in the UAE, and economic modelling by the Centre for Economic Business Research (Cebr).

Sander Maertens, Head of Middle East for Adyen, said, “despite challenges as a result of the global pandemic, our research shows that UAE retailers have performed remarkably well compared to their global counterparts. Digital transformation and streamlined operations via improvements in online, in-app and in-store payments channels, along with supply chain and inventory management improvements, resulted in enhanced business performance, which drove up sales by 54%.”

Adyen’s research shows that technology will play a significant role in helping merchants reach and exceed their growth expectations. When businesses incorporate technology across their functions, linking operations with payments and customer experience, the proportion of UAE businesses expecting to grow by 20% or more increases to 84%.

The reports’ findings also include:

• The majority of UAE consumers (83%) say they are more likely to shop with retailers that use technology to improve the customer experience
• Only 23% of UAE merchants allow customers to easily return items purchased online at their physical stores
• 66% of UAE businesses having invested in digitizing their operations to improve operations during the pandemic, which is 20% higher than the global average