Adyen has posted solid H1 2026 results as it continues to expand its business, adding more financial services and technology to its platform.
According to results published on 13 August, Adyen’s processed volume grew 24% year-over-year to €803.8bn (£686.7bn), lifting net revenue by 19% to €1.3bn. Operating efficiency remained high, with EBITDA reaching €641.5m, representing a 49% EBITDA margin.
The financial performance gives Adyen plenty to be pleased about, as was the case last year. But the more interesting part of its results is how the company is widening its role within merchants’ businesses.
“By expanding our role well beyond payments, we execute our long-term strategy and solve deeper structural complexity for our merchants,” said Pieter van der Does, Co-founder and Co-CEO of Adyen.
A mission to own more of the payment stack
Payments are still the core of Adyen’s business, but the company is adding services that sit around the transaction.
One of the more significant launches in H1 was Intelligent Money Movement, which brings enterprise payments, liquidity management, and payouts onto one platform. The fintech has also continued developing tools to improve what happens before and after a payment.
For example, Adyen Uplift, a tool to optimise payment performance, and Dynamic Identification, which helps identify the best payment flow for a customer, helped increase customer conversion by an average of 0.9 percentage points by the end of H1.
Meanwhile, the company’s Adyen Personalise product uses its network data to help merchants deliver tailored shopping experiences.
The company has also expanded its platform through acquisitions, with the fintech completing deals for the loyalty platform Talon.One and billing software company Orb on 1 July.
Preparing for the next generation of commerce
Adyen also looks to be preparing for changes that could impact how payments are made in the coming years.
The company launched Adyen Agentic, which aims to allow enterprise merchants to process payments across AI agent protocols as autonomous shopping becomes a more realistic use case.
It has also joined the x402 Foundation and Open Standard, supporting the development of open protocols for payments in agentic commerce and stablecoin infrastructure through Open USD.
x402 is an open payment protocol that seeks to allow internet-connected services and AI agents to make and receive payments, potentially removing some of the friction involved in setting up traditional payment accounts.
Adyen is one of a growing number of payments and technology companies exploring the technology, with Visa, Coinbase, Stripe and Mastercard among the other companies involved.
Open USD, meanwhile, is being developed as a stablecoin infrastructure standard for global money movement. The initiative has attracted more than 140 companies, including Visa, Mastercard, Stripe, Coinbase and Chime.
“Through high-impact milestones – including the strategic acquisitions of Talon.One and Orb, alongside the launches of Adyen Agentic and Intelligent Money Movement – we built the complete financial operating system for modern commerce to position us for sustained, durable growth,” said van der Does.
Merchants still buying into Adyen
There are no signs so far that expansion is coming at the expense of its core payments business.
Processed volume grew faster than net revenue during H1, while Adyen continued to win major enterprise customers, including Aritzia, OpenAI, and Xiaomi. It also expanded its partnership with Toast into the US following success in international markets and secured public sector business with GOV.UK Pay.
Adyen expects net revenue growth of between 21% and 23% for 2026 on a constant currency basis.
The company expects capital expenditure to reach around 7% of net revenue this year, as it pulls some planned 2027 investment into the second half of 2026 to secure compute and storage capacity. The company says the investment will return towards historical levels after 2026.
