PYPL US (Buy, TP: $80, +33%) ADYEN (Buy, TP: EUR1,800, +58%) Visa-Mastercard Settlement blocked: Rise of the Merchants revisited
On June 25, a federal judge in Brooklyn, NY formally blocked the $30 Billion Swipe-Fee Deal involving Visa / MasterCard and retailers, with a written statement published a few days later (28 June). In this short follow-up to our previous note Rise of the Merchants (19 April), where we discussed interchange and this theme in detail, and with the market mainly focusing on implications for V/MA, we look also at how this relates to PSPs, PayPal and Adyen, and what’s next.Adyen NV, formerly Adyen BV, is provider of mobile, online and point-of-sale (POS) payment solutions based in the Netherlands. It operates an online platform enabling merchants to accept payments internationally and from all sales channels, such as online shops, mobile payments from applications and Websites, and POS, such as countertops, mobile terminals, tablets and cash registers, among others. The platform covers the entire payment chain, including technical, contractual, reconciliation and settlement processes. The platform is available in the form of ready-to-use payment pages (HPP), application programming interface (API), and client-side encryption solution (EE). The Company's customers include Mango, KLM, Netflix, Superdry, Uber, Groupon and Crocs, among others. It has offices in the Netherlands, the United Kingdom, France, Germany, Belgium, Brazil, China, Australia, Mexico, Singapore, Spain, Sweden and the United States.
PayPal Holdings is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. The company's combined payment solutions include its PayPal, PayPal Credit, Braintree, Venmo, Xoom and iZettle products and services. PayPal's payment solutions enable the company's customers to send and receive payments. PayPal helps merchants and consumers connect, transact, and complete payments, whether they are online, on a mobile device, in an app, or in person. The company provides proprietary payment solutions accepted by merchants that enable the completion of payments on the company's Payments Platform on behalf of its customers.
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