Adyen: Reshaping the Payment Ecosystem

The Dutch company Adyen was founded in 2006 to provide online merchants with smooth online payments, regardless of currency, country, or payment method. Its services had attracted large online merchants, which struggled to reconcile different payment methods across countries. Adyen's technology made online payments easier, and faster, and with increased online payment transaction success rates. In 2013, Adyen started providing point-of-sale payment devices to stores and became attractive to companies with store networks. Multinational enterprises with online and offline sales channels, such as the sportswear Nike and the fashion firm H&M, were those that appreciated Adyen's services the most. However, since 2018, Adyen had tried to attract the mid-market with little success. Adyen's management was analyzing different strategies to reach out to such a segment.