Payment processing firm Adyen has reported a significant increase in transaction volumes processed during the first quarter of 2024, handling €382 billion across its merchant clients globally.
Transaction growth across all segments
The company processed 21% more payment volume compared to the same period last year. Growth was strongest in unified commerce channels, which saw a 26% year-on-year increase, whilst digital payments rose 15% and in-store transactions climbed 26%.
This performance suggests that despite economic headwinds and persistent inflation concerns, UK and European businesses continue to drive customer spending through multiple sales channels — a key trend for retailers and hospitality operators managing omnichannel operations.
What this means for your business
If you're an SME processing customer payments, Adyen's growth reflects wider market confidence in payment infrastructure. Strong transaction volumes across sectors suggest competitive pressure on merchant fees and terminal costs may ease, or that providers are investing in features like integrated reporting and fraud protection to differentiate themselves.
When your current merchant services contract renews, use this momentum to benchmark rates against competitors. Providers often adjust pricing based on transaction volumes and risk profiles. If your business has grown, you may qualify for better terms — especially if you're processing multi-channel payments (card, digital wallets, online).