Monday , February 6, 2023

Looking to Enable More Debit Volume, Instacart Adds Adyen for Processing

Instacart, the online grocery-delivery service and marketplace that employs personal shoppers to shop for consumers—and then facilitates delivery of those orders to the customer’s home—has brought on Adyen Inc. to provide additional payment processing capabilities.

The deal will enable Instacart to leverage Adyen’s platform for payments including, PINless debit. Instacart says it looks to improve authorization rates and smooth out transactions at the point-of-sale.

Instacart, which offers grocery delivery and pickup in the United States and Canada, has signed up more than 900 grocers and retailers, including Albertsons, Aldi, Costco, CVS, Kroger, Loblaw, Publix, Sam’s Club, Sprouts, and Wegmans.

Consumers can purchase groceries through Instacart’s Web site or mobile app. Orders are filled by personal shoppers and can be scheduled for delivery in as little as an hour. Instacart’s delivery window starts at 9:00 am and can run as late as 12:00 am, depending on the hours the store filling the order is open.

The ability for Instacart to accept PINless debit and increase authorization rates for those types of transactions will be a plus for the online delivery service, as debit usage in North America has risen significantly the past year, Adyen says. The Amsterdam-based processor says its RevenueAccelerate service applies the preferences of each issuer and debit network to help merchants see a lift in authorization rates.

“We’re pleased to welcome Adyen as an additional payments partner that will enable us to continue to scale and ensure our customers have a seamless experience all the way through checkout,” says Heather Rivera, Instacart’s vice president of strategy, corporate development, and partnerships, in a prepared statement.

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