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Adyen (ADYEN) investor relations material

Adyen Morgan Stanley 25th European Technology, Media & Telecom Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Morgan Stanley 25th European Technology, Media & Telecom Conference summary13 Nov, 2025

Platform evolution and technology foundations

  • Built a single global tech stack enabling both online and in-person payments worldwide, with banking licenses in key regions for end-to-end control.

  • Dynamic, behavior-based identification leverages real-time data to enhance fraud detection and customer protection.

  • AI accelerates fraudster tactics, making real-time behavioral analysis essential for security.

  • Unified data from a single platform enables risk assessment and improved onboarding and fraud prevention.

  • Scale and unified platform allow seamless connection and analysis of transactions.

Innovation, product suite, and competitive differentiation

  • Adyen Uplift suite optimizes the entire payments conversion funnel, improving authorization rates, cost management, and fraud prevention.

  • U.S. debit routing leverages alternative networks for cost and performance optimization, enabled by direct partnerships and in-house tech development.

  • Machine learning-based fraud tools (Protect) see high adoption, with 2/3 of new customers using it from day one.

  • Unified commerce offering processes both online and in-person payments through one integration, providing a holistic view of shopper behavior.

  • Expansion into new verticals like hospitality and food & beverage, with technology as a strategic differentiator.

Market opportunity and growth strategy

  • Addressable payments market estimated at €26 trillion, with current 5% share and significant room for growth.

  • Payments market expected to double over the next decade; financial products present a €127 billion revenue opportunity, growing at 20% CAGR.

  • Complexity in payments is rising, shifting the market from commodity to functionality, favoring differentiated solutions.

  • Unified commerce and SMB penetration in Europe and the U.S. remain major growth levers.

  • Platforms and embedded finance for SMBs are growing over 50%, with vertical SaaS providers driving adoption.

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Next Adyen earnings date

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Q4 202513 Feb, 2026
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Frequently asked questions

A leading end-to-end payment platform

Adyen is one of the world's leading end-to-end payments platforms, enabling merchants to accept and process payments through its comprehensive payments infrastructure, both online and offline. Adyen has a broad product suite including integrated payment gateways, payment processing, virtual and physical card issuing, and acquiring processes for brick and mortar, ecommerce, and mobile. Every Adyen solution is built upon the same back-end infrastructure, which entails visibility and control across the entire value chain.

Further reading: The Payments Value Chain: A Complex Ecosystem

Financial technology for the modern era

Adyen was founded in Amsterdam, 2006, by the current CEO Pieter van der Does and Arnout Schuijff. The company started out as a payment processor for online merchants, which still lies at its core. The business opportunity the founders observed was the mix of the rapidly growing ecommerce industry at the time, and the outdated infrastructure regarding payment processing supporting it. Thus, Adyen set off to build a financial technology platform for the modern era from the ground up, entirely in house. Having every part of the network built in house has proven to be a wise strategic choice, since this has entailed other business opportunities such as providing merchants with data analysis capabilities.

Vital strategic pricing choices

Adyen has a volume-based price offering, which has entailed that many online merchants have chosen Adyen at an early stage. Most of the company's competitors have operated with a flat pricing model instead, which has given Adyen advantages both in terms of attracting new customers and maintaining low churn over time. As of 2023, Adyen is one of the most highly valued companies within its specific niche, having surpassed a market cap of $40 billion. Some competitors who have been successful within the same field are Block, Paypal, and Stripe.

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