Etsy is the first company to leverage Adyen's Giving round-up feature, allowing customers to round-up their totals to donate.
AMSTERDAM, July 18, 2022 /PRNewswire/ -- Adyen (AMS: ADYEN), the global financial technology platform of choice for leading businesses, and Etsy, which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, announced today that Adyen has enabled ten million Etsy buyer donations to the Uplift Fund, administered by the Brooklyn Community Foundation.
Etsy launched the Uplift Fund with the Brooklyn Community Foundation in February of 2021 to give its buyers an opportunity to join them in supporting creators who face barriers to building successful businesses. When US shoppers check out on Etsy, they have the option to round up their purchase price and donate to the Fund via Adyen.
"Adyen's solution has enabled us to seamlessly engage the Etsy community in supporting our Uplift Fund," said Morgan Blake, VP of Payments at Etsy. "It's been amazing to see how a small change in checkout can have such a major impact, especially as the past few years have highlighted the gap in resources available to many communities who are eager to use their entrepreneurial talents.
"Partnerships like this one with Etsy and Adyen encourage and simplify the process for people to give to charitable causes. That's what we're seeing here, with the remarkable milestone of reaching 10M buyers," said Jocelynne Rainey, President and CEO, Brooklyn Community Foundation. "We are thrilled to host Etsy's donor advised Uplift Fund to support nonprofits nationwide that work to dismantle barriers to building a successful small business."
"We've seen great traction with Giving and we are thrilled to reach this milestone with Etsy," said Ingo Uytdehaage, CFO at Adyen. "Etsy has been a key partner in building out our Giving solution, including the round-up feature. By combining strengths with Adyen's technology and Etsy's two-sided marketplace, we were able to come together to find a solution that drives impact, in line with the UN's Sustainable Development Goals. We can't wait to see what else we accomplish together."
Giving is a product that enables Adyen's merchants to accept charitable donations during the online and in-store checkout process, and allows them to strengthen their bond with their shoppers by providing a platform for their preferred charitable causes. By doing so, Giving converts shoppers' good intentions into additional revenue streams for charitable causes. With a single tap on a point-of-sale terminal or the click of a button at an online checkout, shoppers can donate to the merchants' charity of choice. Giving transactions seamlessly integrate into existing checkout processes across all payment channels, and shoppers' donations are reported and settled to the charity of choice directly without impacting the merchants' existing reconciliation flow.
Adyen (AMS: ADYEN) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Facebook, Uber, H&M, eBay, and Microsoft. The cooperation with Etsy as described in this merchant update underlines Adyen's continuous growth with current and new merchants over the years.
To learn more about Giving, please go here.
Etsy, Inc. operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world. These marketplaces share a mission to keep commerce human, and are committed to using the power of business to strengthen communities and empower people. Its primary marketplace, Etsy.com, is the global destination for unique and creative goods. Buyers come to Etsy to be inspired and delighted by items that are crafted and curated by creative entrepreneurs. For sellers, Etsy offers a range of tools and services that address key business needs.
About the Brooklyn Community Foundation
Brooklyn Community Foundation is on a mission to spark lasting social change, mobilizing people, capital, and expertise for a fair and just Brooklyn. It is the first and only public foundation solely dedicated to Brooklyn, working in partnership with generous donors and community leaders to advance racial justice and bolster vital nonprofits. Since its founding in 2009, the Foundation and its donors have provided over $75 million in grants to nonprofits in Brooklyn and beyond. Learn more at www.BrooklynCommunityFoundation.org.
Source: Adyen Inc. Related Stocks: EuronextAmsterdam:ADYEN OTC:ADYEY