Tuesday , October 23, 2018

Recurly Turns to Adyen for Help as It Expands Its Subscription-Management Business Globally

Subscription-management platform provider Recurly Inc. reported Thursday that it will use international multi-channel payments provider Adyen to further expand its business abroad.

Founded in 2010, San Francisco-based Recurly already operates in 32 countries. Its customers are businesses that use recurring-revenue models, including media and publishing firms, software-as-a-service providers, and others. They include Sling Media, JibJab Media, Asana, and HubSpot.

Amsterdam-based Adyen supports about 250 payment methods globally and runs its U.S. operations out of San Francisco. The company says it provides online, mobile, and in-store payment services to 4,500-plus businesses, including eight of the 10 largest U.S. Internet companies. Customers include Facebook, Uber, Netflix, Spotify, and L’Oreal. Adyen in one of a handful of so-called unicorns in the payments business—a privately held company valued at more than $1 billion.

With their integration, Recurly and Adyen say they will make it easy for subscription businesses to accept many international payment types, resulting in improved conversions at checkout.

“Global subscription businesses require a payment-processing partner equipped to handle the unique requirements of cross-border commerce,” Recurly chief executive Dan Burkhart said in a news release. “The Recurly and Adyen partnership provides a distinctive set of capabilities for subscription businesses to rapidly expand their offerings outside the continental U.S. market.”

Adyen’s president for North America, Kamran Zaki, added that “subscription businesses can differentiate themselves on the global stage by delivering frictionless experiences with a variety of payment options. Our integration with Recurly helps subscription businesses provide seamless and secure payment experiences and increase revenue opportunities worldwide.”

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