Adyen Targets Asian Merchants

Looking to Sell Globally

BY BAILEY REUTZEL

JUN 5, 2014 4:00am ET
The e-commerce payment processing provider Adyen is trying to capture more
business in Asia from the growing number of merchants who want to sell to North
America and other regions.
"There's much more activity, compared to five years ago, of merchants out of
Asia selling to the global market," says Roelant Prins, chief commerce officer at
Adyen. About 15% of Adyen's annual processing volume came from Asia,
whereas last year only 10% came from Asia, he says. Adyen currently processes
$19 billion in payments.
OffGamers, an online portal for games based in Singapore, recently switched to
Adyen from WorldPay for its processing.
"We were using WorldPay for many years prior to Adyen and the decision to
switch was not an easy one, as we treasure[d] our long-standing relationship with
WorldPay," says Leonard Chee, CEO of OffGamers. "The main three factors that
ultimately tilt[ed] our decision!were transaction capturing speed, more
advanced system and overall rates."
About 20% of OffGamers' business comes from the Americas, says Prins.
Adyen, which is based in Amsterdam, also allows OffGamers to accept local
European payment methods, such as iDEAL in the Netherlands and the Mister
Cash card in Belgium. OffGamers has seen a small uptick in credit card
transactions since switching to Adyen, but Chee says it's too early to attribute this
to the processor.
Adyen supports 250 payment methods worldwide, 66 of which are local
alternative payment methods in Asia, including Alipay in China; Konbini, a
convenience store payment system in Japan; and ItzCash cards in India. Adyen
also provides merchants connections to 31 other Asian acquirers and card
schemes, such as UnionPay.
The processor has about 10 people based in Singapore. It works with hundreds
of multi-national merchants that do business in Asia, including NakedWine,
LivingSocial, Groupon and Singapore Media Corp., says Prins.