Uytdehaage: Chinese domestic market is super difficult for payment providers
Ingo Uytdehaage · Ingo Uytdehaage, Adyen | All-In Summit 2024 · Oct 10, 2024 · at 21:30
Ingo Uytdehaage, Co-CEO of payments giant Adyen, discusses market entry and regulatory hurdles in authoritarian countries at All-In Summit 2024.
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“I think the Chinese domestic market is a super difficult market to be active.”
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More from Ingo Uytdehaage
Uytdehaage: Only Adyen and Stripe globally invest in fintech infrastructure
“Because I think we are the only two companies globally that are investing in technology, in financial technology.”
Uytdehaage: SWIFT alternatives, including stablecoins, will likely emerge longer term
“I think there is a likelihood there will be alternatives. Yeah. And also I think to your example on stable coins, like that could be an alternative longer term. Also if there are issues with Swift.”
Uytdehaage: Most Adyen volume comes from displacing legacy banks
“But if you see where we win most of our business, it's with the traditional businesses. So indeed, the incumbents, the banks, that's where volume comes from.”
Uytdehaage: Incumbent banks have not invested in payment technology for ages
“I think if you look at this industry banks, incumbents haven't invested for ages.”