Dutch global payment company Adyen yesterday announced the launch of Shuttle, a new mobile point of sale solution. Launching simultaneously in London, Amsterdam and Berlin, the new payment device allows merchants to accept both chip and pin payments from a mobile device – meaning it accepts all credit and debit cards that are widely used across Europe.
Adyen is entering a highly competitive market, Europe is already home to mobile payment systems iZettle, Payleven, SumUp and StreetPay. The Adyen payment system, however, distinguishes itself by providing a standalone device to read cards, which links to the merchant’s iOS or Android smartphone via a Bluetooth connection.
It also solves the tricky problem of complying with credit card security regulations, as the keypad lets shoppers enter their pin, providing additional verification to just signing, something that many credit card companies demand. Shoppers don’t need smartphones either, all they need is their card and pin, keying it in to the device and receiving a receipt via email.
The launch was held in the Gidsy offices in Berlin, with whom Adyen is already in partnership. Gidsy, an online marketplace for experiences, will distribute the Adyen payment devices to members selling these experiences, allowing users to pay the providers directly and filtering a percentage to Gidsy.
Predominately an eCommerce payment provider, Adyen already has an impressive roster of global clients including Vodafone, Getty Images, Benetton, KLM, PopCap Games, Greenpeace and SoundCloud. Shuttle was launched in London in partnership with ticket provider ticketscript and in Amsterdam with Dutch department store De Bijenkorf.
Merchants rather than micro-payments
The Shuttle does come with a price tag though – merchants pay a one-off fee of €99 to buy the device, plus €10 per month to use it. The transaction fees are negligible, 1.4 per cent for credit cards and 13 cents for debit cards. This is a cut less than their competition – iZettle demands 2.75 per cent of the transactions, while even the competitively priced StreetPay receives 1.9 per cent.
Speaking at the Berlin launch event, Edial Dekker, founder and CEO of Gidsy, said, “Gidsy connects travelers and locals with things to do. Although we’re a website, much of the magic of Gidsy happens offline when people meet up to do an activity. We’re really excited about the opportunity for our organisers to accept card payments face-to-face at these physical locations. Also, using Adyen, we can be sure it is secure and easy.”
John Caspers, co-founder of Adyen, told VentureVillage at the launch that they would be targeting larger merchants, leaving the micro merchants for the other payment systems.