Amsterdam-based financial technology firm Adyen has appointed Tom Adams as its new Chief Technology Officer. Adams will step into the role as Adyen prepares to further innovate and expand its single platform, which integrates payments, data, and financial products.

Replacing Adyen’s Long-Serving CTO

According to the company, this initiative comes as Alexander Matthey, Adyen's long-serving CTO, prepares to step down after a decade of pioneering work. Pieter van der Does, the Co-Founder and Co-CEO of Adyen, expressed confidence in Adams' ability to drive the company's technological vision forward.

He said: “As we look at the opportunity ahead, we find ourselves in a key position to solve for the continued complexity that we see in the payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term landscape. With Tom’s experience in building and leading a global engineering organization, as well as driving product innovation at scale, we look forward to his contributions as we advance the benefits of our single platform.”

Adams brings a wealth of experience to Adyen from his previous role as Head of Engineering at Cash App, a business vertical under Block. His new position will involve overseeing the strategic and technological direction of Adyen's integrated platform, a crucial asset in the company's global operations.

Dutch Central Bank Approval

Adams' appointment as CTO has reportedly received the green light from the Dutch Central Bank. However, his formal entry into the role is contingent upon approval from Adyen's shareholders, which will be sought at an upcoming Extraordinary General Meeting (EGM). The company plans to send out a convening notice for the EGM in the near future.

“As the financial services industry continues to digitalize, and as we see shopper expectations continue to evolve, there is immense opportunity to drive innovation in this space,” Adams said. “I look forward to joining this exceptional team to help continue to execute Adyen's long-term growth ambitions and to drive customer-led innovations at scale.”

Recently, Adyen expanded its operations in India after obtaining approval from the Reserve Bank of India to operate as an online payment aggregator. The permission enables the company to process domestic and cross-border payments Cross-Border Payments Cross-border payments refer to transactions involving individuals, companies, banks or settlement institutions operating in at least two different countries.The concept of cross-border payment is not new however, despite its rise in importance in the 21st century.New technology and the growth of blockchain has brought the term cross-border payment into our daily conversations.Cross-border payments are an essential term that refers to any transaction involving private individuals’ companies, bank Cross-border payments refer to transactions involving individuals, companies, banks or settlement institutions operating in at least two different countries.The concept of cross-border payment is not new however, despite its rise in importance in the 21st century.New technology and the growth of blockchain has brought the term cross-border payment into our daily conversations.Cross-border payments are an essential term that refers to any transaction involving private individuals’ companies, bank Read this Term in India. As part of the arrangement, Adyen reportedly seeks to establish a technology hub in Bengaluru and launch local payment processing capabilities.

Adyen’s local payment processing promises merchants in India the ability to optimize transactions. It is reportedly part of the company’s broader payment platform, which provides various services under a single system.