Adyen vs Worldpay: Revenue, Profit and Business Model
Adyen reported ~$2.7B of revenue in FY2025 and ~$1.2B of net income. Worldpay reported $4.9B of revenue in FY2023 and — of net income.
Latest financial snapshot
Financial summary
Adyen
Adyen reported 2025 net revenue of ~$2.67 billion (€2.3642 billion), up 18% year over year, while processed volume reached ~$1.58 trillion (€1.3943 trillion). EBITDA was ~$1.41 billion (€1.2457 billion) and the EBITDA margin was 53%. These measures must be kept distinct: processed volume is the value of payments handled, while net revenue is Adyen's primary top-line KPI after specified pass-through costs.
Worldpay
Worldpay's ownership has changed repeatedly. Vantiv listed on the NYSE in 2012, bought the UK's Worldpay Group in 2018, and was acquired by FIS in 2019 in a deal valued at about $43 billion including debt. FIS later recorded a $17.6 billion goodwill impairment on its merchant business and, in early 2024, sold a 55% stake to GTCR at an enterprise value of about $18.5 billion. Worldpay's revenue was about $4.9 billion in 2023. In April 2025 Global Payments agreed to buy Worldpay for $24.25 billion in cash and stock while selling its Issuer Solutions business to FIS; both transactions closed in January 2026, leaving GTCR with about 15% of Global Payments' equity.
Revenue and profit by year
Adyen
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | ~$2.7B | ~$1.2B | 44.9% | +17.3% | Source |
| FY2024 | ~$2.3B | ~$1B | 45.9% | +23.9% | Source |
| FY2023 | ~$1.8B | ~$789.1M | 42.9% | +22.2% | Source |
| FY2022 | ~$1.5B | ~$637.5M | 42.4% | +32.8% | Source |
| FY2021 | ~$1.1B | ~$530.8M | 46.9% | +46.4% | Source |
| FY2020 | ~$773.1M | — | 0.0% | +37.7% | Source |
| FY2019 | ~$561.6M | — | 0.0% | +42.4% | Source |
| FY2018 | ~$394.3M | — | 0.0% | +60.0% | Source |
| FY2017 | ~$246.3M | — | 0.0% | — | Source |
Worldpay
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2023 | $4.9B | — | 0.0% | — | Source |
Where the revenue comes from
Adyen
- Settlement fees
Fees tied to payment acquiring and settlement; Adyen does not disclose this as a standalone percentage of net revenue.
- Processing fees
Per-transaction fees for platform services; no audited percentage split is disclosed.
- Other platform and financial-product fees
Includes services for platforms, issuing, accounts, capital, data, and optimization products without a reported percentage split.
Worldpay
No segment breakdown is published.
Business model and strategy
Adyen
How it makes money
Adyen earns net revenue from processing and settlement fees and from other services delivered through its platform. Interchange, scheme fees, and costs from financial institutions are generally passed through and are not the same as Adyen's net revenue. The company reports Digital, Unified Commerce, and Platforms as commercial pillars rather than separate reportable revenue segments.
Growth strategy
Adyen is expanding share of wallet with existing customers, adding local payment and acquiring capabilities, and extending its platform beyond payments. In 2026 it added Talon.One for loyalty and incentives and Orb for usage-based billing, while launching Adyen Agentic and Intelligent Money Movement.
Competitive advantage
Adyen operates gateway, risk, acquiring, payment processing, and financial products through a single technology platform. This structure gives merchants one integration and a unified data view across online and in-person channels.
Worldpay
How it makes money
Worldpay earns fees on payments it processes and acquires for merchants: a share of each transaction's value plus per-transaction and service fees, with interchange and card scheme fees passed through to issuers and networks. Its customers include large enterprise and e-commerce merchants, small and mid-sized businesses, and software platforms that embed payments into their own products.
Growth strategy
Under Global Payments, growth plans center on cross-selling: offering Global Payments' Genius POS to Worldpay's small business clients, and Worldpay's enterprise and e-commerce services to Global Payments' clients, while expanding payments embedded in software platforms.
Competitive advantage
Worldpay's main strengths are scale, a large base of enterprise and e-commerce merchants, acquiring capabilities in many countries and currencies, and distribution through software partners. Combined with Global Payments, it gains Global Payments' SMB products such as the Genius POS system and a wider geographic footprint.
Questions about Adyen vs Worldpay
Which company has higher revenue — Adyen N.V. or Worldpay, Inc.?
Adyen N.V. reported ~$2.7B (FY2025), while Worldpay, Inc. reported $4.9B (FY2023). By last reported revenue, Worldpay, Inc. is the larger business, with Adyen N.V. reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Adyen N.V. vs Worldpay, Inc.?
Adyen N.V. has a market capitalisation of $28.1B. A public market cap figure for Worldpay, Inc. was not available (it may be privately held).
Which is more financially efficient — Adyen N.V. or Worldpay, Inc.?
Adyen N.V. generates $560k / employee in revenue per employee, while Worldpay, Inc. generates $576k / employee. Worldpay, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Adyen N.V. and Worldpay, Inc. make money?
Adyen N.V. and Worldpay, Inc. generate revenue in fundamentally different ways. Adyen N.V.: Adyen earns net revenue from processing and settlement fees and from other services delivered through its platform. Worldpay, Inc.: Worldpay earns fees on payments it processes and acquires for merchants: a share of each transaction's value plus per-transaction and service fees, with interchange and card scheme fees passed through to issuers and networks.
Is Adyen N.V. bigger than Worldpay, Inc.?
By last reported revenue, Worldpay, Inc. ($4.9B (FY2023)) is the larger company compared to Adyen N.V. (~$2.7B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Adyen vs Worldpay overview