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What's Happening in Payments Ep. 7: Adyen's Brian Dammeir on how to keep up with the shifting payments landscape
In episode 7 of What’s Happening in Payments, Brian Dammeir, president of North America at Adyen, joins host Ismail Umar. Brian has been with Adyen for the past seven years, and prior to that, he held a variety of product roles at Google and Airbnb.
Adyen is an Amsterdam-based firm that allows businesses to globally accept, process, and settle ecommerce, mobile, and point-of-sale payments. It acts as a payment processor for some of the biggest brands across tech, retail, travel, restaurants, and more, including Spotify, Uber, Facebook, LinkedIn, McDonald’s, eBay, and L’Oréal.
Brian talks about a number of topics, including his experiences at Adyen, how he’s seeing a shift in consumer culture and expectations across generations, the potential long-term effects of Covid on consumer behavior, and the role that Adyen wants to play in the future of payments.
The latest briefing
Embedded Briefing: Affirm reports strong quarter; focuses on achieving profitability
Buy Now Pay Later provider Affirm recently posted a quarterly loss of $0.19 per share, beating analyst expectations of a 51-cent loss. Having exceeded its Q3 expectations, the firm raised its outlook for FY 2022.
When Affirm went public last year, investors swept up its stock, valuing it as a tech disruptor, granting the loss-making company a peak market capitalization of $47 billion. That figure fell to $5 billion after the firm’s stock saw a sharp 89% decline in November 2021. Experts say that’s because while the company may dress up as an exciting tech firm, it is increasingly morphing into a more traditional credit provider.
Initially, much of the firm’s revenue came from partnerships with merchants, but that model has since changed. Most of Affirm’s earnings now come from its functions as a lender.
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Just look at the charts
1. State of open finance around the world
Source: Florian Graillot
2. Expansion of fintech product offerings
Source: Sanjeev Kumar
Klarna hits 150 million active users
To celebrate the milestone, Klarna has launched 'Dream Deal Days', a three-day event offering consumers exclusive deals and product drops with major retail brands (Finextra)
Shopify expands crypto payment options
Merchants on Shopify can now accept instant crypto payments through the Crypto.com Pay feature (CoinDesk)
Paxos and State Street to deliver same-day settlement
State Street has teamed up with crypto firm Paxos to integrate its custodial services into the Paxos Settlement Service and deliver T+0 settlement for industry participants (Crowdfund Insider)
Ripple announces $100 million to fight climate change
Ripple has committed $100 million to help modernize carbon markets through investments in carbon removal companies and climate-focused fintechs (Fintech Finance)
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