Adyen, the global financial technology platform, announced the launch of Payout Services. This offering enables Adyen's customers to pay out funds purchased with the preferred method of their affiliated users or partners faster.
The new functionality eliminates unnecessary delays and third parties in the fund's movement process; Adyen's goal is to free up millions in daily cash flow for its customers, supporting greater operational efficiency and helping companies achieve their ambitions faster.
Adyen's ability to do this derives from its banking licenses, branches, and direct connection to banking schemes and cards in real time. By moving funds from point A to B within a single banking infrastructure, payments can be processed up to three days faster than the industry standard.
With a single API, Adyen's clients can pay globally to their user base, such as gig economy workers and marketplace vendors, greatly enhancing the platform experience with faster access to cash. The launch makes it easier for customers to access more cash to earn interest, invest in R&D for growth and minimize their need for external funding. With Adyen's API, instead of managing multiple vendors in different regions, creating operational complexity and slowing a company's ability to scale, customers can manage funds on a global scale through a single partner.
For platform end users, payments through real-time banking and card schemes offer faster access to their funds. According to the Boston Consulting Group, 75% of SMEs expressed the need to settle on the same day or faster. By accelerating payments, Adyen's platform customers can meet this demand and enhance their end-user experience.
"We see this as an opportunity to provide a market-leading solution that supports real-time payments," acknowledges Roelant Prince CCO, Adyen.
"We can greatly streamline our customers' cash flow, improving corporate treasury management and enabling end users to receive faster access to their cash. Our solution makes it easier for companies to accept and pay out funds in one place, acting as a catalyst for business growth through our innovative technology."
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