By offering Cash App Pay, Adyen’s businesses will be providing customers with a simple way to pay using their Cash App balance or linked debit card. This 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 US This will provide their customers with access to a seamless, secure checkout experience that can feature high authorisation rates and an improved shopping experience.
Cash App’s officials stated that they’re excited to partner with Adyen to bring Cash App Pay to more businesses across the US. As one the first financial technology platform outside of the Square ecosystem to launch Cash App Pay, they look forward to seeing the value this partnership brings to their customers and Adyen’s businesses.
Real Time VAU coverage will help European businesses increase revenue and authorisation rates from card-on-file payments by automatically updating Visa accounts in real time. This in turn prevents involuntary churn, according to company intel, and since Adyen automatically connects to the schemes account updater services, there is no integration.
The feature, which was previously only available in North America, allows businesses to update customers' stored card details in real time. When a merchant submits a payment, Real Time VAU instantly checks for the latest card details. If there's an update, Real Time VAU will immediately replace the payment request with the updated card details. This all happens as the payment is being processed and appears as a single transaction.
Adyen provides end-to-end payments capabilities, data-driven insights, and financial products in a single global solution to help businesses achieve their ambitions faster. With offices around the world, the company 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.
For more information about Adyen, please check out the company profile in The Paypers Company Database.
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