Adyen selected as first financial technology platform to launch Cash App Pay
Adyen (AMS: ADYEN) has partnered with Cash App to introduce Cash App Pay, enabling U.S. businesses using Adyen to offer this mobile payment method. This integration will allow customers to pay using their Cash App balance or linked debit card. The launch is set for online use shortly, with in-store availability next year. The partnership connects Adyen with Cash App's 80 million active users, enhancing the payment experience for businesses by providing high authorization rates and improved checkout processes.
- Adyen becomes the first financial technology platform to offer Cash App Pay, enhancing its payment offerings.
- Access to Cash App's 80 million active users, targeting a significant demographic of Millennial and Gen Z consumers.
- Improvement in checkout experience with high authorization rates.
- None.
Adyen is first to offer the payment method outside of the Block ecosystem
SAN FRANCISCO, Sept. 15, 2022 /PRNewswire/ -- Adyen (AMS: ADYEN), the global financial technology platform of choice for leading businesses, has partnered with Cash App (Block, Inc.) to offer Cash App Pay, a mobile payment method, to Adyen's U.S. customers. Businesses working with Adyen will have access to Cash App Pay as an integrated payment method for their U.S. customers. The payment method will be available online shortly and in-store next year.
By offering Cash App Pay, Adyen's businesses will be providing customers with a convenient and simple way to pay using their Cash App balance or linked debit card. This Cash App software integration will also provide Adyen's business customers access to Cash App's 80 million annual actives, which make up a third of Millennial and Gen Z consumers in the U.S. This will provide their customers with access to a seamless, secure checkout experience that can feature high authorization rates and an improved shopping experience.
"We're excited to partner with Adyen to bring Cash App Pay to more businesses across the U.S.," said Owen Jennings, Chief Operating Officer at Cash App. "As the first financial technology platform to partner with the Cash App Pay ecosystem, we look forward to seeing the value this partnership brings to our customers and Adyen's businesses."
"At Adyen, we are consistently adding new payment methods to ensure our businesses can meet their end customers where they are," said Roelant Prins, CCO at Adyen. "We are thrilled to be entering this strong partnership with the Cash App team. We're looking forward to seeing how we can continue to partner to better service businesses and their customers."
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 Facebook, Uber, H&M, eBay, and Microsoft. The partnership with Cash App as described in this update underlines Adyen's continuous expansion of supported payment methods over the years.
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SOURCE Adyen Inc.
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