BRAZIL | Global payment provider Adyen saw its volume of payment transactions in Brazil rise with 160% in 2014, representing more than 300% revenue growth.
Adyen started to process payments in Brazil in 2010 when it partnered with Groupon to launch its operation in the market. Soon after, Adyen opened its São Paulo office, comprised of a team of local payments experts. According to Jean Christian Mies, Senior Vice President LatAm Adyen, the company is due to experience an unprecedented increase in transaction processing volume, despite the economic scenario that Brazil faces.
“Our preparatory phase is concluded and we now have powerful solutions for a number of different business models. In fact, if the e-commerce market has a prediction to grow by 20% in 2015, we are expecting to grow at a much faster rate,” he says.
The 300% revenue growth marks a significant milestone for the company after only three years of operation in Brazil, and consolidates its position as a local market leader in payment technology. Adyen now has around 200 clients in Brazil including global companies such as Groupon, EasyTaxi, and Crocs, and local businesses such as Azul Linhas Aéreas, O Boticário, Hering, and OLX.
“There are endless possibilities for growth in Brazil, because in many cases businesses in the market still rely on manual routines for payment processing, risk management and financial reconciliation of payments,” says Mies.
“Adyen’s proposition is a single integration for the entire payment operation, which means significant cost reduction, smart risk management, and a wide range of financial and transactional analytics and reporting. This gives merchants all the tools and insights they need to improve their conversion rates and ultimately increase revenue.”
On a global level, Adyen processed $25 billion of transactions in 2014, and received an investment of $250 million from investment funds, including General Atlantic, to focus on its global expansion.
Adyen is a global payments technology company that provides businesses a single global platform to accept payments anywhere in the world. Adyen enables businesses to process payments across online, mobile and Point-of-Sale (POS) with over 250 payment methods and 187 transaction currencies.
Headquartered in Amsterdam and San Francisco, with offices across North America, South America, Europe and Asia, Adyen serves more than 3,500 businesses and four of the five largest U.S. Internet companies, including well-known brands such as Facebook, Airbnb, Spotify, Groupon, Evernote, Booking.com, Viagogo, Yelp, Vodafone, Mango, Netflix, O’Neill, SoundCloud, KLM and JustFab.