(Bi)annual transaction volume of Adyen 2015-2023

In H2 2023, Adyen processed around 12 billion payment transactions worldwide or roughly 27 percent more when compared to the previous year. The Dutch payment gateway continued its growth over the years, after seeing its process volume accelerate in 2020. 

Adyen focuses on the back-end of payment transactions

The transactions mentioned here are not comparable to transactions processed by, for example, PayPal. Adyen aims itself at domestic, mid-market companies, as well as global merchants. Then, it tries to connect these merchants to multiple payment methods and currencies. This business model lead to an IPO valuation of 7.1 billion euros (8.3 billion U.S. dollars) in June 2018. As of March 2018, only Spotify achieved more venture capital backing than the Amsterdam-based Fintech company.

Fintech in the Netherlands is most visible in digital payments

When looking at B2C payment transactions, two Fintech initiatives stand out in the Netherlands: iDEAL and Tikkie. iDEAL is an e-commerce payment system developed by Dutch consumer banks that allows online shoppers to use their bank account for purchases. It had around 524 million transactions in 2018. ABN AMRO's payment app Tikkie, which lets consumers send payment requests from iDEAL via a text message in WhatsApp, reached five million users (of which 4,000 B2B users) in 2019. No numbers are available, however, on the number of transactions with Tikkie.