Adyen Unveils AI-Powered Payment Suite for 6% Conversion Lift

Adyen has rolled out a new AI-driven payment optimization tool that claims to enhance transaction success rates by as much as 6% in comparison to traditional payment systems.

Named Adyen Uplift, this innovative product suite utilizes machine learning algorithms to scrutinize payment data, automating decisions regarding transaction routing, fraud detection, and cost management.

The system leverages insights from over a trillion dollars in processed payments across Adyen’s extensive global platform.

So far, 60 enterprise-level businesses, including outdoor apparel brand Patagonia, job platform Indeed, cybersecurity company NordSecurity, and streaming service Fubo, have tested the system.

These early users encompass a diverse range of digital commerce sectors, from retail to subscription-based services.

Enhancing Payment Processing and Preventing Fraud

This technology tackles a long-standing issue in payment processing: finding the right balance between authorizing legitimate transactions and thwarting fraud.

Traditional systems often force merchants to make a choice between higher transaction approval rates and robust fraud prevention, which can result in lost sales or increased vulnerability.

For example, Swiss performance sportswear brand On reported a 2% rise in successful transactions since they began using the system.

“With Adyen’s AI, we’ve improved our conversion rate by up to 2%, making a significant impact on our operational performance and cost efficiency, all while keeping fraud under control,” stated Luca Spichtig, Head of Digital Operations & Projects at On.