Adyen extends Toast partnership into the US market

Adyen announced on August 10 that it is expanding its partnership with Toast, the restaurant and hospitality technology platform, into the United States, according to a company statement. The two have worked together since 2021 across Ireland, the United Kingdom, Canada and Australia.

Toast facilitated more than $215 billion in gross payment volume across approximately 180,000 locations worldwide in the twelve months to June 30, the companies said. Adding Adyen to the US payments ecosystem extends an arrangement that until now covered only international markets.

“Speed, control, and reliability matter,” said Blake Breathitt, senior vice president and global co-head of strategy at Adyen, in the statement, referring to service businesses such as restaurants and retail where customers are waiting at the point of sale.

Michel Rbeiz, general manager for fintech at Toast, described the US expansion as a natural extension of the existing relationship and said processing stability lets operators concentrate on running their businesses, according to the announcement.

Adyen builds its financial services in house, combining issuing, capital and business accounts in a single system. The company said that structure creates scope for platforms such as Toast to offer financial products directly within their own software over time.

Toast integrates software, payments, financial technology and hardware for restaurant and retail businesses and trades on the New York Stock Exchange under the ticker TOST. Adyen is listed in Amsterdam and reports its first-half results later this month.