Adyen nearly doubles transaction volume to USD$90b in 2016

With Adyen's most recent financial report, it's clear there is plenty of potential for growth in the global payments market.

Adyen today announced the company increased their transaction volume a whopping 80 percent year-over-year, making up for USD$90 billion in 2016. Adyen also made significant traction in the retail market, including the successful global rollout of Burberry's omnichannel payment infrastructure.

Adyen co-founder and CEO, Pieter van der Does says the opportunity for disruption and innovation in global payments is like no other market in the world today.

"Adyen has become the partner of choice for companies looking to expand globally, and we're now seeing real growth in our next big area of focus, the in-store retail payment experience," says van der Does.

Along with Burberry, Adyen's growing list of retail customers includes L'Oreal, Kit and Ace and Scotch - Soda. In the past twelve months, the company's in-store point of sale solution has expanded to over 2,700 live stores in U.S. and Europe, and will expand into Australia in 2017.

Ecommerce also continues its steady march onwards, with Adyen increasing the number of eCommerce businesses it works with, including Etsy, LinkedIn, Skype and Twitter to join existing customers including Kogan, Uber, Netflix, Facebook, Airbnb and Spotify.

"As we continue to scale and expand our business, we see the value of investing in technology like payment solutions that provide consistency and clear reporting," says Goran Stefkovski, chief technology officer at Kogan.com.

"Through our partnership with Adyen, we've been able to fine-tune our checkout process and introduce trusted local payment methods for our customers."

The global payments industry certainly looks to one to watch in the coming years, as more new and innovative (and secure) methods are produced.