And they say wild west justice is no more. Etsy, the online marketplace for handmade goods, has just reached a deal with Adyen, a global payments processor, to run its payments backend for the over 1.7 million sellers on the site.
You may remember a few months ago that Worldpay, Etsy’s prior payments processor, was partner to a month long calamity that disrupted millions in transaction dollars. A botched server update resulted in duplicate charges and dropped transactions for Etsy merchants and sellers. 15,000 customer complaints on an Etsy chat thread later, the company actually added a new payments processor.
“We believe that this relationship will strengthen our ability to disburse payments to sellers quickly and reliably as well as our ability to offer our buyers the opportunity to pay with their payment method of choice,” said James Esposito, senior director of payment operations at Etsy in a release from Adyen.
Taking some artistic liberties, this roughly translates to — Worldpay seriously screwed a number of our customers and we were left to pick up the pieces, so hopefully Adyen will actually let us reliably process payments. Seriously, we don’t need anything innovative, we just want transactions to be able to go from point A to point B in 2016.
Adyen is no newbie at payments processing either. The company already powers processing for well known tech companies like Uber, Facebook, and Netflix that each have millions of respective customers. Fingers crossed the transition goes swimmingly and Etsy customers can continue transacting undisturbed.
[Source:- Tech Crunch]