Adyen’s Brian Dammeir on the changing payments landscape, and is Affirm transforming into a traditional credit provider? – Detachable sheet

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What’s Happening in Payments Ep. 7: Adyen’s Brian Dammeir on How to Keep Up with the Changing Payments Landscape

In Episode 7 of What’s Happening in Payments, Brian Dammeir, President North America at Adyen, joins host Ismail Umar. Brian has been with Adyen for seven years, and before that he held various product roles at Google and Airbnb.

Adyen is an Amsterdam-based company that enables businesses to globally accept, process and settle e-commerce, mobile and point-of-sale payments. It acts as a payment processor for some of the biggest brands in technology, retail, travel, restaurants, and more, including Spotify, Uber, Facebook, LinkedIn, McDonald’s, eBay, and L’Oreal.

Brian talks about a number of topics, including his experiences at Adyen, how he sees 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.

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The last briefing

Integrated briefing: Affirm announces a solid quarter; focuses on profitability

Provider Buy Now Pay Later Affirm recently posted a quarterly loss of $0.19 per share, beating analysts’ expectations of a loss of 51 cents. After beating its expectations for the third quarter, the company raised its outlook for fiscal 2022.

When Affirm went public last year, investors swept away its stock, pricing it as a tech disruptor, awarding the loss-making company a maximum market capitalization of $47 billion. That figure fell to $5 billion after the company’s shares fell sharply by 89% in November 2021. experts say it’s because while the company disguises itself as an exciting technology company, it’s increasingly transforming itself into a more traditional credit provider.

Initially, much of the company’s revenue came from partnerships with merchants, but that pattern has since changed. Most of Affirm’s income now comes from its lending functions.

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Just look at the charts

1. State of open finance around the world

Source: Florian Graillot

2. Expanding fintech product offerings

Source: Sanjeev Kumar

today’s stories

Klarna reaches 150 million active users
To celebrate this milestone, Klarna launched “Dream Deal Days”, a three-day event offering consumers exclusive deals and product deliveries 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 will offer same day settlement
State Street has partnered with crypto firm Paxos to integrate its custodial services into the Paxos settlement service and provide T+0 settlement to industry participants (Crowdfunding Participant)

Ripple announces $100 million to fight climate change
Ripple has committed $100 million to help modernize carbon markets through investments in carbon-disposal companies and climate-focused fintechs (Fintech financing)

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