Adyen’s first quarter announcement provided ample evidence of embedded finance’s momentum as platforms and marketplaces seek to build payments into their own business models. Platforms net revenue reached €55.5 million, up 63% year over year, per the company’s financials, with significant demand in the software-as-a-service (SaaS) segment. Processed volumes were up 61% excluding the impact of eBay, to €314.8 billion. The number of platform business customers, stood at 177,000, up from 96,000 in the same time frame last year. Adyen also said that it has 30 platform customers that process more than €1 billion annually, up from 19 a year ago. Issuing volumes have increased, though management added that this part of the business is relatively small and will take time to grow. Within the digital pillar, net revenues surged 13% to €320.4 million, on the heels of demand in the content and subscriptions verticals. Unified Commerce — comprised of Adyen’s operations that connect online and offline payments for client firms’ cross-channel efforts — saw revenue growth of 31% to €158.8 million, with growth in the retail and the food and beverage segments. Processed volumes gained 37%, while 592 customers leveraged the Unified Commerce operations to process payments across multiple regions, up 77 customers year over year.
Installment payments option will allow users to pay using the Samsung wallet in the conventional tap-to-pay method but made after the fact, at Splitit’s discretion
Two new Samsung Wallet features in the pipeline including a new installment payment function and a money-sending tool, are likely to change how users interact with the app on a daily basis. The installment payments option will allow users to pay using the Samsung wallet in the conventional tap-to-pay method. In action, nothing feels different about using the tool. The main difference here is that installment payments will need to be made after the fact, at Splitit’s discretion. The disclosure notes that the option will be available for all Visa and Mastercard purchases, which should cover most storefront requirements. Send Money also appears in the leaked screenshots. According to the instructions in Samsung’s app, the function will work with a simple tap on another phone or a debit card. It’s likely that users will first need to enter some information prior to tapping, like the money amount. After that, an NFC tap will activate the transfer. The neat detail here is that one can tap someone else’s debit card to send them money. Samsung Wallet’s installment payments and money-sending features will likely be available soon for users in the US through a beta phase. It seems the beta is still open for enrollment, which would give you access to the two new features.