Grocery technology company Instacart has selected Netherlands-based fintech Adyen as an additional payments’ processing partner. As part of this partnership, Instacart will be enabled to leverage Adyen’s functionality, including its PIN-less debit enablement of transactions, to expedite the optimisation and improvement of authorisation rates with the goal of creating a better customer experience.

Adyen officials have stated in the company’s press release that working with Instacart on debit enablement and US processing marks the first step in the partnership between the two companies, with working on future payment capabilities set to follow as the company is looking to further its expansion. With Instacart looking to create an improved online grocery shopping experience for their customers and partners, company representatives believe that having selected Adyen as an additional payments partner will enable their scalability and ensure a seamless experience for their customers all the way through checkout. Details on what the partnership entails Over the course of 2022, Adyen has seen a significant increase in debit usage in North America.

When it comes to marketplaces of the likes of Instacart, they are being relied on by consumers for connecting with and shopping online from their preferred retailers; as such, the customer experience enhancement involves the optimisation of authorisation rates across issuers and the variety of debit networks. Adyen’s RevenueAccelerate solution enables the preferences’ application of each issuer and debit network to help merchants have an increase in authorisation rates, which ultimately results in a more efficient and simplified customer experience. The solution includes the following checkout, routing, messaging, and recovery features: Authentication Engine, which helps automatically determine whether a bank needs to authenticate a shopper and if so, how to do it.

Intelligent Payment Routing, which selects the route with the best chance of authorisation. Smart Payment Messaging, which adapts the format of payment messages to meet specific issuer preferences.    Account Updater, which enables real-time access to up-to-date card details.

Network Token Optimization, which exchanges card numbers for tokens to increase card approval rates. Auto Rescue, which helps recover declined payments through automated, intelligent retries.   Auto Retries, which enables transactions declined due to technical errors to be retried instantly.

Adyen company mission Adyen is a financial technology platform that provides end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, aiming to helps businesses achieve their goals in a faster manner. The company has offices worldwide and works with companies such as Facebook, Uber, H&M, eBay, and Microsoft and aims to continue with expanding its product offering to further its growth. For more information about Adyen, please check out their detailed profile in our dedicated, industry-specific Company Database.

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