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Dive Brief:
- Dutch fintech Adyen aims to give Canadian e-commerce company Shopify a leg up as Shopify pursues larger merchant clients.
- Shopify is upgrading its payment gateway integration with Adyen to offer more payment choices more easily, in an effort to serve bigger merchants on the international stage, Shopify said in a Wednesday news release.
- That integration, expected to occur later this year, will make it simpler for large merchants working with Shopify to accept payments, including credit cards, digital wallets such as Apple Pay and Google Pay, and others such as iDEAL in the Netherlands and Cartes Bancaires in France, Shopify said in the release.
Dive Insight:
The move reflects Shopify’s ongoing pursuit of larger merchants to fuel growth. The company, which competes with tech companies such as BigCommerce and Salesforce in offering software services to retailers, has sought to expand beyond small and mid-sized businesses, especially as e-commerce growth has slowed.
In January, Shopify introduced a service that gives large retailers the ability to select the Shopify tools they want, including the checkout function or social commerce. Larger clients using Shopify already include beauty products company Coty, shoe-maker Steve Madden and office supply retailer Staples.
Adyen previously provided card payment capabilities to Shopify, said Davi Strazza, president of North America at Adyen. The expanded partnership’s new integration “includes diversified payment options and global acquiring solutions that will help Shopify’s enterprise businesses grow internationally at accelerated speeds,” Strazza said in an email.
Adyen’s financial technology tools and services designed for large businesses assist Shopify in attracting bigger customers, with “the flexibility and modular approach that is needed for large businesses,” Strazza said.
Shopify also said Wednesday it’s making its checkout tool Shop Pay, which saves customers’ billing and shipping information, available to large retailers not on Shopify. That tool is used by about 100 million consumers globally, according to Shopify.
Adyen was able to meet Shopify’s needs because of its focus on very large merchants, said Brian Dammeir, Adyen’s global head of unified commerce. “We’ve really figured out what those customers need, and we continue to fill that mission,” Dammeir said in an interview.
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