Through this partnership, the companies aim to support the growth of successful marketplaces by powering frictionless buying and selling experiences at scale. The global collaboration builds on Mirakl and Adyen’s existing relationship and will serve customers around the world, including in Europe, North America, and Asia Pacific.
The two companies have launched a new connector between their solutions, which can automate critical marketplace payment flows and compliance processes on marketplaces powered by the Mirakl Marketplace Platform thus enabling businesses to seamlessly scale. Third-party sellers and buyers can also benefit from this improved payment process, as they will be able to maintain their preferred payment methods.
According to Mirakl’s State of Online Marketplace Adoption report, 70% of consumers worldwide now believe online marketplaces are the most convenient way to shop. In this context, the new connector can help businesses take advantage of this trend.
Due to Mirakl’s partnership with Adyen, operators will now be able to adapt payment methods to the local needs of consumers and buyers, as Adyen’s well-established global system of payment methods was built to take into account local payment method preferences.
The new connector also supports the seamless verification of a seller’s identity to facilitate frictionless onboarding and make sure the seller is Know Your Customer (KYC) compliant. Once the screening process has been completed, sellers can be onboarded quickly across multiple markets, allowing the operator to scale their platform with ease. Furthermore, since Adyen’s solution works across online and in-store sales, it can support a unified shopping experience.
Mirakl officials emphasised in the company press release how Adyen’s international reach can enable Mirakl-powered Marketplaces to provide a seamless payment process tailored to the country where the customer is operating.
Adyen officials explained how the Mirakl Adyen Connector can provide a highly automated payment process, making it easy for end customers to pay online with their preferred method. The connector can also simplify the seller onboarding and payment process for marketplace operators.
In November 2022, grocery technology company Instacart has selected Adyen as an additional payments processing partner. As part of this collaboration, Instacart can leverage Adyen’s functionality, including its PIN-less debit enablement of transactions, to expedite the optimisation and improvement of authorisation rates in order to improve customer experience.
In October 2022, Adyen has extended its offering by launching two new embedded financial products, Capital and Accounts, which are available in the US and Europe. Adyen's embedded financial product suite offers a modular solution that brings increased control and customisation options for businesses.
The Capital product enables platforms to proactively offer business financing based on historic payments data, while Adyen's Accounts product allows users to run their finances where they do business and get instant access to funds.
For more information about Adyen, please check out their detailed profile in our dedicated, industry-specific Company Database.
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