Adyen has issued over two billion active network tokens, marking 2,200% growth in the technology since 2020
- Adyen issues over 2 billion active network tokens, paving the way for businesses to embrace network tokenization. Businesses have seen a 3% uplift in authorization rates and a multi-million dollar increase in revenue every month. Network tokenization reduces costs and increases transaction approval rates.
- Payments fraud has increased, with 39% of businesses reporting fraud attempts.
With the rise in digital payments after the pandemic, network tokenization emerged as a key technology to increase authorization rates and reduce payment fraud
Security remains a top priority for businesses, however this no longer needs to come at the expense of the customer experience. Through network tokenization, businesses have seen an average of
The rapid growth in digital payments and e-commerce in recent years, accelerated further by the Covid-19 pandemic, has resulted in a striking rise of payments fraud. Adyen's own research finds that
"Network tokenization is a powerful tool," says Trevor Nies, Global Head of Digital at Adyen. "It brings the two-fold benefit of increasing customer security, while increasing authorization rates, and therefore revenue for businesses. With Adyen's technology, which supports the major card schemes, we are seeing that more and more businesses realize the potential in network tokens."
Network tokenization is an emerging technology and as such not all issuers currently support it. To solve this challenge Adyen offers network token optimization which uses machine learning to choose between a network token or PAN payment to boost authorization rates. This drives an additional
To find out more, read our blog on network tokenization.
About Adyen
Adyen (AMS: ADYEN) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft.
About Adyen's Global Retail Report
The Global Retail Report includes insights from an online poll of 12,000 merchants across 26 different countries and 36,000 consumers, by Censuswide and Opinium between February and March 2023.
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SOURCE Adyen Inc.
