Through this partnership, Adyen and Spendesk intend to support small and medium-sized enterprises (SMEs) in developing their operations by equipping them with embedded financial services. Also, while Spendesk aims to continue to accelerate launching products to market in 2025, Adyen focuses on building its suite of embedded financial products, including business bank accounts and card issuing.
The announcement comes just days after Adyen teamed up with Zalando to offer European clients and users secure and augmented payment methods. The collaboration was set to allow Adyen to become the exclusive payment partner of Zalando for selected local payments, including Cartes Bancaires in France and Bancontact in Belgium.
As a spend management platform for medium-sized businesses, Spendesk provides a comprehensive solution that supports finance teams in automating workflows and gaining visibility and control over company spending. In addition, the company enables businesses to employ their existing accounting and financial software through its APIs and native integrations. In a bid to assist its expansion strategy, Spendesk tapped Adyen for its full-stack BaaS coverage across multiple markets, mitigating complex multi-provider setups.
Through Adyen’s UK banking licence, the collaboration is set to enable customers in the region to access the card customisation capabilities they require and integrate financial products beyond payments. In addition, as Adyen holds licences in the US and EU, besides the UK, the company allows Spendesk to meet regulatory requirements and be compliant within the countries it conducts operations in and plans to scale to.
When commenting on the announcement, representatives from Spendesk underlined that Adyen’s technology, geographical footprint, and commitment to development can support their company in reaching its objectives as it navigates regulatory requirements and evolving customer needs and preferences.
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