Embedded financial products
Card Issuing
When you have an Adyen issued card
If you or your employer sign up for our Card Services, we may provide you with a debit card, charge card, or prepaid card depending on the type of account linked to your card (“Card Services”), and in connection with your Card Program Provider’s agreement with Adyen. We will process your personal data, including KYC information (e.g., name and address), in order to provide you with these services. Your name, address, and card details may be shared with card manufacturers to provide you with a physical card.
If you are issued a card directly by one of Adyen’s bank sponsors, we may collect additional personal information to fulfill our KYC obligations.
When provided with a card issued by Adyen or by one of Adyen’s bank sponsors, Adyen will also process transaction information, including your cardholder name, card number and expiry date.
Finally, when providing Card Services, we may process your information for the following purposes:
Processing and monitoring transaction behavior;
Verifying your identity for authentication purposes; and
Improving our products and services.
How long do we keep this data?
We will only keep your data for as long as we reasonably need to for the purposes listed above.
We keep the data we collect in order to perform the transaction in accordance with applicable laws. For most jurisdictions, this is a period of 7 years after conclusion of the relevant transaction, in order to meet our fiscal, corporate, and other statutory obligations.
The retention terms outlined above may be extended if we are required to keep data longer due to applicable law, or to administer our business. If we need to keep any information for an extended period for our legitimate interest of protecting our legal rights, we will keep the necessary information for this purpose until the relevant claim(s) has/have been settled.
Capital
When you receive an Adyen loan or merchant cash advance
If you are a user or sub-merchant and are signed up for Adyen Capital (a financial product offered by Adyen to its platform customers), you may receive an Adyen loan or merchant cash advance, depending on your location. To be able to offer you these products, Adyen will need to collect KYC information from you.
In order to determine your eligibility for Adyen Capital, we will run initial checks on your use of Adyen products and services, including your current and anticipated sales volume. We may rely on our customer’s own internal credit checks and compliance checks to determine eligibility and/or may collect additional information. This process may involve automated decision-making, which may include profiling under certain privacy laws. You have the right to opt-out of such profiling. Please note that opting-out of profiling will mean that you are no longer eligible for Adyen Capital. Please see Your Individual Rights for more information about these rights and how to opt-out.
When provided with Adyen Capital, Adyen will process information about the transactions made from such loans or merchant cash advance. Such information may be shared with Adyen’s customer.
If and when necessary, your personal information may be shared with third parties to provide you with our products and services, or with collection agencies.
How long do we keep this data?
We only keep your data for as long as we reasonably need to for the purposes listed above.
We keep the data we collect in order to perform the transaction in accordance with applicable laws. For most jurisdictions, this is a period of 7 years after conclusion of the relevant transaction, in order to meet our fiscal, corporate, and other statutory obligations.
The retention terms above may be extended if we are required to keep data longer due to applicable law, or to administer our business. If we need to keep any information for an extended period for our legitimate interest of protecting our legal rights, we will keep the necessary information for this purpose until the relevant claim(s) has/have been settled.
Business Account
When you receive an Adyen-issued business account
If you request an Adyen business account, we process your personal data such as your name, address, company name, and address in order to provide you with the business account. In addition, we may collect additional personal information to complete KYC or other compliance obligations. In order to perform any services related to your business account, Adyen will process all information relevant to the business account, account funding, as well as the account and routing number associated with the business account.
How long do we keep this data?
We only keep your data for as long as we reasonably need to for the purposes listed above. Under most regulations, we are required to keep a record of bank account transactions for 7 years.
The retention terms may be extended if we are required to keep data longer due to applicable law, or to administer our business. If we need to keep any information longer for an extended period for our legitimate interest of protecting our legal rights, we will keep the necessary information for this purpose until the relevant claim(s) has/have been settled.