Global payments platform Adyen (AMS: ADYEN), which claims it’s the platform of choice for many of the world’s largest businesses, has announced that it would be expanding its operations into the Middle East region.
Adyen’s management noted that they aim to support the momentum of innovation and diversification of the business landscape in the Middle East. Adyen has established a new office in Dubai. The payments company said that the new office will enable Adyen’s existing merchant base to move into the region. The Fintech firm will also offer merchants from the region seamless access to the full strength and capabilities of the Adyen platform.
Sander Maertens, Head of Middle East for Adyen, stated:
“We’re very excited to open our Dubai office, this is an incredibly dynamic market. For us, it’s important to be able to offer local expertise to our merchants — that’s why opening a local office is essential.”
Adyen aims to support a wide range of local payment options, so that consumers and businesses are able to pay using their preferred payment methods. Adyen confirmed that it has integrated with a host of local payment methods including Fawry, Mada, Meeza, KNET, NAPS, BENEFIT, and OmanNet.
Pieter van der Does, Co-Founder and CEO at Adyen, remarked:
“Investing in our global reach to support our merchants is something we’re constantly working on — and this is a very interesting region for them. There’s a lot happening in the Middle Eastern market, and we’re excited to be a part of it.”
As reported earlier this year, Adyen had announced that it would expand its acquiring capabilities in Malaysia. According to Adyen, the expansion helps businesses achieve higher authorization rates, better customer experience, and deeper data insights as the Malaysian market transitions to online payments.
As covered in late April 2020, Adyen NV, a leading Fintech company that handles payments for large firms such as Uber Technologies and E-Bay, had revealed that its business and revenue increased by more than a third (or 33%) during the first quarter of 2020.
Adyen pointed out that it posted a solid quarter even though it took a major hit in fees from the travel and accommodation industries, following the global Coronavirus (COVID-19) outbreak and resulting economic challenges (including international travel restrictions).
