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Teamwork Commerce, a provider of retail-management software, has partnered with Adyen NV to launch Pay by Link, a financial technology platform that enables consumers to pay using a secure URL link provided by the retailer.
With Pay by Link, consumers pay using their preferred payment option through a secure link that, when clicked on, takes them to a checkout page provided by the retailer through Teamwork. Merchants can provide Pay By Link payment links via email, by generating a QR code that can be copied or scanned, or by having employees copy and paste the link so that shoppers can pay on their own device.
In addition, Pay By Link allows consumers to make partial payments using a buy now, pay later option. It accepts a variety of payment methods including Afterpay, PayPal, and digital wallets such as Apple Pay, Google Pay, Alipay, and WeChat Pay. It also notifies merchants in real time when a shopper’s transaction has been approved. The app enables consumers to initiate returns without a receipt.
“Our goal is to help retailers deliver high-quality, seamless retail experiences, and Pay by Link helps merchants take another step towards that,” Amber Hovious, vice president of marketing and partnerships for Teamwork Commerce, says in a statement. “With flexible and secure technology, retailers can rest assured that they are delivering convenient point-of-sale opportunities to their customers and streamlining their own operations.”
Last week, Ayden reported revenue of €739.1 million ($804.3 million) in the first half of 2023. That was up 21% from the same period in 2022 but came in lower than analyst estimates. In North America, Adyen reported first-half revenues of €187.5 million ($204 million), a 23% increase from the same period a year earlier, but less than half the rate of growth for the same period a year ago.
Adyen attributed the lower-than-expected results in part to a shift in its North American customers’ focus from growth to cost savings during the first half of the year.
