Adyen

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The payment processor that’s tapping into the growth in digital transactions.

If you have completed a purchase online or in store – there’s a high chance you may have used Adyen’s systems.  Headquartered in Amsterdam, Adyen offers a revolutionary payment platform that has simplified the entire payment flow for businesses - from checkout through to final settlement.

With over 23 billion payments processed in 2023* and accelerating adoption of cashless transactions, Adyen is at the heart of a fast-growing industry. We tracked Adyen since its IPO in 2018 and saw an attractive entry point in 2023 after a short-term market pullback despite the company’s long-term fundamentals remaining strong.

Simplifying payments: from checkout to settlement

Adyen’s success is built on simplifying the complex and fragmented digital payments chain. Historically, businesses needed to use different providers for elements including point-of-sale payments, transaction processing, fraud protection and so forth.

Adyen solves this by offering a single, end-to-end payments platform.  It supports hundreds of payment methods with direct connections to card networks (like Mastercard, Visa and American Express) reducing the friction for merchants and shoppers alike.

That’s why it’s the choice of many of the world’s biggest brands including Netflix, Spotify, Amazon, McDonalds and H&M - spanning e-commerce, retail, and subscription-based businesses. The next time you buy something on Vinted or Amazon, you can think of Adyen.

Competitively positioned: Adyen stands out

We believe that Adyen stands out in a competitive industry.  Unlike rivals Stripe, which serves small businesses and startups, or PayPal, which is consumer-focused, Adyen specialises in serving large enterprises with complex needs, offering a fully integrated solution across online and in-store payments. 

Other barriers to entry it has include:

• Its fully integrated, in-house technology streamlines payments, so it does not have to rely on third-party providers 
• With global reach and local expertise, Adyen enables merchants to operate smoothly across multiple regions
• Adyen is also innovating with Adyen Uplift. That’s a new AI-powered solution that helps merchants reduce costs, recognise loyal customers, and prevent fraud - enhancing both security and efficiency 
• And while some rivals have engaged in price wars, Adyen’s disciplined pricing strategy reinforces its long-term value and resilience
   

Our outlook: a clear runway for expansion

As long-term investors, we believe Adyen is well positioned for sustained growth, driven by:

• The global shift toward cashless payments
• Large merchants consolidating providers to simplify operations
• More small and medium-sized businesses adopting Adyen

In summary, Adyen has achieved market leadership by offering a simpler, secure solution for businesses. Looking forward, we believe it has developed strong competitive advantages and a clear runway for expansion. With global digital payments growth set to expand, we remain confident in Adyen’s long-term growth potential.  
 

*Source: Statista and Adyen March 2025