Adyen, the payments platform of choice for the world’s leading companies, today announced an expansion of its current payment processing offerings in Singapore via a direct credit card acquiring license for Visa and MasterCard.
This extends Adyen's full stack solution to Singapore, enabling businesses to process transactions and increase opportunities for improved revenue and richer data insights. Merchants also benefit from Adyen's on-the-ground expertise, including optimization of local market conditions, ensuring merchants increase opportunities for conversions.
“Adyen was founded on a vision that optimizing the payment cycle would lead to greater benefits for merchants and end customers. Our direct credit card acquiring capability makes it possible for our customers to benefit from the best acceptance and authorization rates. By owning the entire value chain, Adyen eliminates the need to run payments across multiple third party platforms. We are better equipped to help Singapore-based businesses achieve complete control of their payment process – optimizing revenue, creating a better customer experience and helping companies deal with issues more quickly and efficiently,” said Warren HAYASHI, President, Adyen, Asia-Pacific.
“We work closely with Adyen for our payment process. Now, with the expansion of Adyen’s service offerings to include direct acquiring, we are presented with an end-to-end perspective on the payment flow. The new offering will allow us to make tremendous improvements in terms of speed and control which in turn will lead us to make more data-driven enhancements to the overall payment experience as we rapidly expand and acquire new customers,” said Chen Chow YEOH, Co-Founder of Fave.
Asia Pacific is a key market for Adyen, with Adyen expanding its regional hub in Singapore and welcoming customers such as Grab, Sephora and Redmart. With businesses focused on looking for solutions that can help them take advantage of retail opportunities in the region, Adyen’s solutions continue to attract the attention of merchants and investors. This year, Adyen welcomed fast-growing brands like Fave and oBike into the Adyen family of customers.