ADYEN Expands Its Presence In APAC: New Singapore Office and The Partnership with Grabby Fintech News Singapore August 25, 2016
New Office in Singapore
Adyen today announced its continued commitment to businesses in the region with the expansion and move to a new Singapore office. The office in Singapore will provide modern end-to-end payment infrastructure for global companies including Southeast Asia’s leading ride-hailing platform, Grab.
Located in the heart of Singapore’s Central Business District, the close to 500 square meters’ office space will provide modern end-to-end payment infrastructure for leading global companies. Adyen has been empowering businesses such as Cathay Pacific, Daniel Wellington and Spotify with the ability to accept a variety of payment methods from consumers in Asia Pacific, including local and alternative payment methods.
“Asia Pacific is the most active e-commerce market in the world and Adyen sees enormous potential to enable e-commerce and omni-channel businesses in this region,” said Warren Hayashi, President, Asia Pacific at Adyen. “We are excited to provide merchants in the region a seamless mobile payment experience to their customers whether in-app or on the mobile web. With the rich data created through our platform, merchants can deepen their understanding of cross-channel customer behaviour, develop their business beyond local shores and grow their revenue accordingly.”
Adyen currently has three offices in the region, including Shanghai and Sydney. The expansion in Singapore is a result of Adyen’s continued momentum and commitment to the region. In 2015, Adyen announced that it processed US$50 billion in transaction volume, up from US$25 billion, and achieved revenue of US$350 million, a growth of more than 100 percent over 2014. The company has been profitable since 2011, and its rapid growth and enormous potential across both point of sale and online payments globally has attracted investment from across the world. Most recently, it was valued at US$2.3 billion following an investment from Iconiq Capital, which followed a US$250 million investment round in December 2014 from General Atlantic, Felicis Ventures, Temasek, and Index Ventures.
The new premises began operations in its new premises in August 2016.
Adyen – Grab Partnership for GrabPay in Indonesia, Philippines, Thailand and Vietnam
Additionally, Adyen also announced their partnership with Grab – Southeast Asia’s leading ride-hailing platform – to extend the capabilities of its GrabPay platform in Indonesia, Philippines, Thailand and Vietnam. The partnership will deliver a consistent, frictionless payment experience for customers traveling across these markets regardless of their device or payment method.
“As part of Grab’s drive to make ride-hailing even safer, easier and more accessible to everyone in Southeast Asia, providing trusted, seamless mobile payments is crucial for the overall customer experience. Grab wanted a partner who could support a variety of traditional and alternative payment methods to support our growth across the region. Adyen fits the bill and we are excited at now being able to offer our passengers even more payment options when they pay through GrabPay,” said Joel Yarbrough, Head of Payments & Commerce Product, Grab.
With Adyen supporting 250 payments methods around the world, Grab customers will be offered both traditional cards and, over time, country-specific payment methods, using Adyen’s expertise and data to expand payment options.
Business travelers who work within the region can also easily tabulate their business ride spending with Grab through the Grab for Work portal, and companies can automatically pay for their employees’ rides through the use of corporate cards.