Adyen, the global financial technology platform of choice for leading companies, announced the expansion of the Real Time Visa Account Updater (VAU) to Europe.

Adyen will assist its clients in increasing the revenue and approval rates of card-on-file payments by automatically updating Visa accounts in real time as the first platform to provide real-time VAU coverage in Europe with Visa. Because Adyen automatically connects to the systems’ update services, no integration is necessary and as a result, involuntary churn is avoided.

“It can be frustrating for consumers to have to update their new card data at multiple merchants, and that can lead to a bad experience for those customers,”

“With Real Time VAU, Adyen’s customers can bypass these obstacles and make the checkout process smooth. Adyen has been a wonderful partner over the years and we are delighted that they are starting with us in Europe.”

                       Neil Caldwell, SVP, Merchant Distribution & Acquisition for Europe at Visa.

This functionality enables businesses to instantly update the saved map data of their clients, which was previously only possible in North America. Real Time VAU analyses the most recent card information as soon as a merchant submits a payment. If there is an update, Real Time VAU quickly replaces the payment request with the new card information. All of this takes place while processing the payment and appears as a single transaction.

“We are thrilled to be the first financial technology platform to offer Real Time VAU with Visa in Europe,”

“Companies that have customers in Europe can use real-time account updates to ensure they receive the highest approval rates while providing a seamless experience for their customers.”

                                                                                                Kamran Zaki, COO at Adyen.

The Adyen RevenueAccelerate product line includes Real Time VAU. Businesses may increase approval rates, improve customer experiences, minimize payment costs, and reduce involuntary churn by leveraging data and machine learning to increase revenue. Since 2017, Adyen has provided the Real Time Account Updater with a number of worldwide map networks.

Adyen announced the release of its first terminals created in-house. The terminal range, which was developed to support a variety of payment use cases, represents the most recent development in Adyen’s expanding unified commerce portfolio.