Adyen’s capitalisation is more than twice that of Crédit Suisse: €57 billion. Quite impressive for a company founded in 2006. The payment systems expert is enjoying the benefits society’s digital transformation, which means more payment methods: bank cards, of course, but also digital wallets (Apple Pay, WeChat Pay) or Pay by Link, a tool for sending a secure payment link by email, chat or SMS. To manage all these systems, merchants turn to so-called "omnichannel" payment specialists such as Adyen.
This Dutch star boasts a portfolio of prestigious clients including Uber, Spotify and Booking.com. Driven by the pandemic, Adyen’s revenue grew 28% in 2020, to €684.2 million. Most analysts recommend holding shares. Although Adyen has a head start, the competition is tough with giants the likes of the French company Worldline, and US firms FIV and Stripe. The risk is that large customers switch to the enemy. In 2018, for example, eBay left PayPal for Adyen.