Summary of Adyen Conference Call (November 13, 2025) Company Overview - **Company**: Adyen (OTCPK:ADYE.Y) - **Industry**: Payment processing and financial technology Key Points and Arguments Platform Foundations - Adyen has built a single global technology platform that allows customers to process payments worldwide, both online and in-person, since its inception [1][2] - The company has added banking licenses in the U.K., Europe, and the U.S. since 2017, providing end-to-end control over its services [1] Payment Volume and Fraud Management - Adyen processed EUR 1.3 trillion in payment volume over the last 12 months, which enhances its ability to analyze individual shopper behavior [2] - The company emphasizes the importance of real-time fraud detection, leveraging behavioral patterns to authenticate users dynamically [3][4] Data Utilization - Adyen possesses significant data on transaction behaviors, which aids in fraud detection and onboarding merchants [5][6] - The company can assign risk levels to different behavioral patterns, enhancing customer security [6][7] Market Dynamics - The complexity in the payments industry is increasing, driven by technology evolution and the rise of agentic commerce, which presents opportunities for Adyen to gain market share [9][11] - Adyen's unique single-platform structure allows it to innovate more rapidly than legacy competitors [15][18] Product Innovations - The Adyen Uplift product suite optimizes the payments conversion funnel, focusing on authorization rates, payment costs, and fraud management [12][19] - Two-thirds of new customers are adopting the Protect fraud tooling product, which utilizes machine learning for real-time fraud detection [20] Unified Commerce - Adyen is seeing a trend of digital customers moving into unified commerce, where both online and in-person payments are processed through one integration [24][26] - The company has successfully expanded into various verticals, including luxury retail, hospitality, and food and beverage, which are among its fastest-growing sectors [28][29] Addressable Market - The total payments market is estimated at EUR 34 trillion, with Adyen capturing a 5% share (EUR 1.3 trillion) of the addressable market of EUR 26 trillion [31][32] - The payments market is expected to double over the next decade, providing significant growth opportunities for Adyen [32] Financial Products and Growth Strategy - Adyen is expanding into financial products, with a revenue opportunity of EUR 127 billion expected to grow at 20% annually [32][44] - The company aims for a 20% growth framework over the next few years, supported by its long-term market potential and new product offerings [56][58] Profitability and Investment - Adyen targets an EBITDA margin of over 55% by 2028, balancing growth investments with operational efficiencies [61][62] - The company plans to invest heavily in its tech and commercial teams while leveraging automation to maintain operating leverage [62] Future Outlook - Adyen is focused on navigating the complexities of the payments landscape, positioning itself to thrive as consumer expectations and technological advancements continue to evolve [55][62] Additional Important Insights - The company is actively engaging with various stakeholders, including Visa, Mastercard, and tech companies, to shape the future of agentic commerce [53][54] - Adyen's strategy emphasizes a customer-first approach, ensuring that merchants maintain brand integrity and customer loyalty in evolving transaction environments [53][54]

Summary of Adyen's Capital Markets Day Conference Call Company Overview - **Company**: Adyen - **Industry**: Fintech Key Points and Arguments Industry Context - The fintech industry is undergoing significant changes due to advancements in AI, increased fraud levels, and evolving regulations, necessitating a resilient response from companies like Adyen [1][2][32] - Adyen is positioned to be one of the largest fintechs globally, leveraging its foundational technology to adapt to these changes [2] Foundational Layers of Adyen's Platform 1. **Single Tech Stack** - Adyen operates on a single tech stack, allowing for efficient transaction routing and rapid adaptation to new trends [3][6] - This vertical control enhances flexibility and speed, minimizing reliance on third parties [6][7] 2. **Global Banking Infrastructure** - Adyen has established its own banking licenses, eliminating dependencies on third-party banks, which enhances predictability and resilience [22][24] - The company has full-stack banking licenses in Europe, the U.K., and the U.S., allowing for direct control over transactions and services [24][25] - This infrastructure enables instant payouts and efficient data management, leading to faster money movement and better intelligence [26][27] 3. **Dynamic Identification** - This new foundational layer addresses the challenges posed by AI-driven fraud and regulatory complexities [32][34] - Dynamic identification leverages behavioral data to enhance fraud detection and improve onboarding processes, reducing false positives by 42% and increasing conversion rates by up to 6% [41][52] - The approach is continuous and contextual, allowing for adaptive risk assessments based on real-time data [39][40] Product Innovations - **Adyen Uplift**: An AI-powered engine that optimizes the payment conversion funnel, balancing risk and cost effectively [50][52] - **Dynamic Identification Applications**: - Enhances merchant onboarding by reducing manual verification steps and accelerating the process [59][61] - Improves credit assessment by using behavioral signals to evaluate creditworthiness in real-time [62][63] - Addresses policy abuse and fraud through comprehensive data analysis, revealing patterns that traditional systems miss [56][57] Market Position and Future Outlook - Adyen's unique position allows it to redefine trust in global commerce, setting a new standard for compliance and risk management [46][64] - The company emphasizes a merchant-first approach, ensuring that innovations benefit merchants without disintermediation [18][19] - Adyen is committed to continuous investment in its infrastructure and technology to maintain its competitive edge and support future growth [31] Additional Insights - The fintech landscape is characterized by a need for robust infrastructure to mitigate risks associated with third-party dependencies [23][30] - Adyen's focus on building a solid foundation enables it to adapt to changing market demands and regulatory environments effectively [15][16] Conclusion Adyen's Capital Markets Day highlighted the company's strategic focus on building a resilient and adaptable fintech platform through its foundational layers. By leveraging its unique technology stack, banking infrastructure, and dynamic identification capabilities, Adyen is well-positioned to navigate the complexities of the evolving financial landscape while delivering value to its customers.