Adyen in 2025: Market Leader or Just Another Middleman?
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Adyen's stock either moonwalks past competitors—or gets trampled in the payments race. Here's the unvarnished take.
The bull case: Scaling like a DeFi protocol
Merchant adoption up 32% YoY. API uptime beating Visa's. That's not legacy finance infrastructure—that's Web3-level execution without the tokenomics nonsense.
The bear trap: Fees under fire
When Stripe slashes rates and Plaid eats your lunch on ACH, even 0.2% margin compression stings. Especially when Wall Street still expects 20% EBITDA growth.
The verdict: Betting on Adyen means believing banks won't innovate
Because let's face it—most won't. Until the next fintech darling gets Series D funding and undercuts everyone. Again.
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