Adyen launches its payment solution for platforms in Singapore
Adyen, the globally recognised financial platform, has announced the successful introduction of Adyen for Platforms in Singapore, achieved through a partnership with TabSquare, a Delivery Hero entity. The integration aims to improve customer experience within Quick Service Restaurants (QSRs) across all communication channels.
Significant insights from research conducted by Adyen and Boston Consulting Group (BCG) on the financial services landscape highlight the importance of integrated platforms and marketplaces. They found that 34% of Small to Medium Businesses (SMBs) currently utilise embedded payment processing services, while 74% expressed interest in adopting such solutions.
In response to this discernible market need, Adyen for Platforms, an end-to-end payments solution for platform business models, including marketplaces, on-demand services, and crowdfunding platforms, has been introduced to businesses in Singapore to support their users. Its key offerings include unlocking new revenue streams, increasing customer lifetime value and boosting global expansion.
In partnership with Adyen, platforms meet the financial requirements of SMBs directly within their workflows. Simplified integration with Adyen reduces the need for multiple payment contacts while streamlining user processes.
This serves online or offline, as payments are embedded into a platform's core product offering, enhancing end-consumer experiences. It also offers seamless transactions, providing multiple currencies and payment methods that align with customer preferences worldwide.
The press release states, "Adyen, the global financial platform of choice for leading companies, today announced the successful debut and integration of Adyen for Platforms for TabSquare... to further enhance customer experience across all channels for Quick Service Restaurants (QSR) in Singapore" confirming the utility of Adyen for businesses in the present day.
TabSquare, an AI-powered technology solution provider for the food and beverage industry, has become the latest addition to Adyen for Platforms in Singapore. Anshul Gupta, Co-Founder of TabSquare, stated, "Adyen is a key ally in our journey to enhance and transform our digital payment services for F&B merchants.'
"There are many payment solutions in the market, but most of them do not meet the unique requirements of the F&B segment. For our SmartPay solution, we have leveraged the capabilities of the Adyen platform and built our payment solution on top of it to address the requirements of the F&B segment."
"SmartPay seamlessly integrates into the restaurant's TabSquare environment, offering a smooth and seamless ordering and payment flow," says Gupta.
The SmartPay solution, powered by Adyen, offers the potential to ramp up restaurant revenues by up to 20% by ensuring quicker table turnovers with efficient payment processing in under 18 seconds.
Noorman Mubarak, Founder of Nasi Lemak Ayam Taliwang, says: "SmartPay allows us to streamline our order processing and payments, making it quicker for us to turn over tables to welcome our next diners."
"Furthermore, the variety of payment methods we now offer makes it easy for our patrons to pay, especially for tourists who come from afar to try our Michelin Guide nasi lemak."
Adyen for Platforms offers an agile solution enabling platforms to integrate financial products into their offerings without operational complexity or resource constraints. With this launch, platforms in Singapore can now leverage Adyen's solutions to grow more quickly, manage risk, track results and gather rich customer insights for their merchants across touchpoints from one integration.
