Adyen and Block Team Up: Will Investors Win?
Payment processing companies Block (NYSE: SQ) -- formerly known as Square -- and Netherlands-based Adyen (OTC: ADYE.Y) are often thought of as competitors. And in many ways, this is true. Both provide payments solutions to businesses, and while their target business customers aren't exactly the same, there is certainly some overlap.
However, there are more differences than similarities between the two businesses, and the two are partnering to maximize the value they are offering their U.S. customers.
Adyen and Block's Cash App have announced a partnership to offer Cash App Pay to Adyen's U.S. customers. In a nutshell, Cash App Pay is a mobile payment tool that allows Cash App users to pay online and in store for purchases, and it will soon be available to Adyen's customers in the United States.
Source Fool.com
