Adyen, a global payments platform, has expanded its
operations in India. This follows the authorization from the Reserve Bank of
India (RBI) to function as an Online Payment Aggregator.

The company can now process both domestic and cross-border
payments within India. As part of this development, Adyen plans to establish a
technology hub in Bengaluru and launch local payment processing capabilities.

Local Payment Processing Expansion

Adyen’s local payment processing will help merchants in
India optimize transactions. This is part of the company’s broader all-in-one
payment platform, which integrates various services into a single system.

Adyen is establishing a technology hub in
Bengaluru. The hub will allow Adyen to be
closer to its merchants in India. It will also enable the company to leverage
India’s skilled tech workforce to support its global and local payment
products.

Adyen’s platform handles the entire payment process, from
gateway to risk management and acquiring services. This allows brands to expand
globally while maintaining efficient payment processes.

“The continued push for a Cashless India presents an
opportunity for businesses to offer new customer journeys in the fastest
growing e-commerce market in the world,” said Ingo Uytdehaage, Co-CEO,
Adyen.

Adyen expands payment processing to India, launches new technology hub: MUMBAI, India, Aug. 14, 2024 /PRNewswire/ — Adyen, the global payments platform of choice for many of the world’s leading companies, today announced its expansion in India,… https://t.co/e1LLvnn2NU

— Stock Market News (@Stock_Market_Pr) August 15, 2024

Direct Connections for Transactions

The company offers businesses insights into local payment
methods and schemes. Adyen processes transactions through direct connections
with major card networks like Visa, Mastercard, Rupay, and UPI. This allows
merchants to use a single platform for all key payment methods in India,
including credit and debit cards and local payment systems.

“We are looking to help transform digital payments in
India with our global full-stack solution and local payment processing
capabilities, optimizing transactions so our merchants can focus on
opportunities to scale in India,” said Aditya Khullar, Country Manager,
India, Adyen.

This article was written by Tareq Sikder at www.financemagnates.com.

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