Fintech Firm Adyen Sees Robust Revenues on Higher Transaction Volume

Adyen said that its revenues for 2016 rose nearly 100 percent to $727 million from $365 million in 2015 as transaction volume soared. Results are driven by clients who are looking to have a single payments platform for purchases made online and in stores.

The Amsterdam-based company’s transaction volume grew 80 percent last year to $90 billion. The company said it is also continuing to grow market share in the U.S., but it did not release share data. With 500 employees, the annual revenue works out to be more than $1.4 million in revenue per employee.

Recent clients of the payments platform included WeWork, Sephora, Symantec and Microsoft.

Pieter van der Does, cofounder and chief executive officer of Adyen, said “by offering global reach and a seamless experience across channels within a single system, [the company] is expanding the possibilities of payments and transforming the way both retailers and shoppers navigate the payments landscape.”

Another new merchant client is Bonobos, which is using Adyen’s platform to “help them connect their online and in-store purchases under one single platform,” said the company, adding that it offers “Bonobos customers a better shopping experience, including the ability to buy online and return or exchange in-store, shop in-store and have items shipped to them.”

In February, the company said its in-store point-of-sale solution has “expanded to over 2,700 live stores in U.S. and Europe.” Adyen said that it differentiates itself in the market by offering “a single, global and end-to-end platform” that enables a company to increase overall conversions rates by 1.4 percent.

Retailers and brands are making investments in technologies that help create seamless experiences for the consumer — meaning they can shop and buy from their favorite brands and stores anytime and on any device.

More business stories from WWD:

Amazon, Wal-Mart and Apple Top List of Biggest E-commerce Retailers

Macy’s, Wal-Mart Grab Lead in ABX Ad Effectiveness Measure for March

Desigual Partners With First Insight on Product Development

Related stories

To Meet Consumer Demands, Fabletics Makes Its Own Sauce

Hundreds More Wal-Mart Jobs Being Cut

Dior Seeking Millions From 'Network' of Chinese Knock-Off Sites

Get more from WWD: Follow us on Twitter, Facebook, Newsletter