Adyen announced the deepening of its partnership with SHOPLINE, Asia's biggest smart commerce platform. Adyen is processing payments for SHOPLINE in Singapore, Malaysia and Hong Kong. Under this expanded partnership, SHOPLINE will use Adyen for Platforms in Singapore to further power its global expansion efforts and smart commerce solutions including e-commerce, social commerce, and point of sale (POS) for its merchants outside of China.

Adyen for Platforms is a flexible payment solution that enables platform business models to integrate payments into their offering without additional operational complexity or resource constraints. Platforms will be able to leverage Adyen's unified commerce solution to expand quickly, manage risk, track results and gather rich customer insights across all touchpoints - all from one integration. With Adyen for Platforms, SHOPLINE built SHOPLINE Payments, a one-stop service offering global and local payment options for its Southeast Asia merchants like Lush, Heinemann Asia Pacific, Angliss, and Lyde Bikes selling on the platform.

By having only one contract for all markets and one integration across regions, SHOPLINE can expand easily without worrying about the complexity of multiple contracts and vendor setups in other markets. As part of this contract, Adyen also helps SHOPLINE stay PCI (Payment Card Industry) compliant with Adyen's suite of encryption solutions, alongside its secure platform. The partnership will also enable SHOPLINE to tap into operational efficiencies.

For instance, SHOPLINE is able to onboard new users seamlessly through Adyen for Platforms' built-in, automated Know Your Customer checks, which allow the platform to save on time and resources it would have to spend otherwise. What's more, Adyen for Platforms will ensure that SHOPLINE's users receive funds through fast and reliable payouts - reducing the average settlement period by two days compared to pre-deployment.