Global payments technology provider Adyen has partnered with Ryanair to allow the airline’s customers to use local payment method iDEAL to purchase flight tickets on its Netherlands site.
This is the first time that Ryanair’s customers have been able to purchase tickets directly from the airline using the most popular payment method in the Netherlands. iDEAL accounts for about 60 per cent of all online payment volume and 40 per cent of payment volume in the travel industry.
“For businesses expanding globally, the value of offering local payment methods is enormous. For example, in markets like the Netherlands and China, local payment methods account for upwards of 50 per cent of online transaction volume,” said Adyen CCO Roelant Prins.
Ryanair first partnered with Adyen in March 2014 to offer the option for Ryanair customers in Germany to purchase flight tickets with SEPA Direct Debit. The airline offers 250 local payment methods worldwide.
Payments group Adyen was valued at £1.5 billion last month after a £250 million Series B funding round. The company has doubled the number of payments processed over the last year as well as revenues over the same period. Its platform works in nearly 200 countries, allowing partners to get paid in virtually any currency and through a wide variety of payment methods.
Whitepapers
Related reading
Travel industry must keep up with consumers’ payments demands
Payments providers must keep up with the fast-paced change of consumer demands in the travel sector, according to Kevin White, Mastercard’s director ... read more
Nissan joins in-car payments race
Payments services providers and fintechs have unleashed a flurry of collaborative innovations over the course of the past decade in order to ... read more
Ripple courting banks, paytech and big fintech to beat Swift to emerging markets
Midway into 2019, Ripple is broadening its clientbase in order to boost growth and capture emerging market volumes, according to Marcus Treacher, ... read more
UK SMEs need to embrace technology revolution
Modulr CEO Myles Stevenson and Seamus Smith, executive vice president of worldwide payments and banking for Sage, on why now is the time to embrace digitisation
