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Accounting · head to head

Adyen vs Modern Treasury

Adyen logo

Adyen

Accounting

The payments platform built for growth

From
$0.13/per-transaction
Rated
-
Full reviewWebsite
Modern Treasury logo

Modern Treasury

Accounting

Payment operations and ledger infrastructure that sits between your product and your own bank accounts

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Adyen there is a minimum monthly invoice, set by industry and business model and only disclosed through the sales team, so small volumes are not economic; Modern Treasury you must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • They diverge on capability: Adyen covers Payment processing, Modern Treasury covers Multi-rail payment initiation.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Adyen and Modern Treasury actually diverge.

Attributes where Adyen and Modern Treasury differ
AttributeAdyenModern Treasury
Starting price$0.13/per-transactionOn request
Pricing modelusage-basedquote
PlatformsWeb, Api, PosWeb
Founded2006Unknown

Identical on both: free tier (No), user rating (Not yet rated), category (Accounting).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Adyen

  • Payment processing
  • Risk management
  • Unified commerce
  • Issuing
  • Platform payments
  • SAP
  • Salesforce
  • Oracle

Only in Modern Treasury

  • Multi-rail payment initiation
  • Bank connectivity
  • Ledgers
  • Automatic reconciliation
  • Approval workflows
  • Virtual accounts
  • Compliance tooling
  • Return and exception handling

What people use each for

The jobs each tool is most often brought in to do.

Adyen

  • Card acquiring with interchange plus pricing for larger merchantsnot Modern Treasury
  • Accepting local payment methods across multiple countriesnot Modern Treasury
  • Settling in several currencies through linked bank accountsnot Modern Treasury
  • Unified online and in-person paymentsnot Modern Treasury

Modern Treasury

  • A marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by handnot Adyen
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot Adyen
  • A company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmesnot Adyen
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot Adyen

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Adyen

  • There is a minimum monthly invoice, set by industry and business model and only disclosed through the sales team, so small volumes are not economic
  • Published fees are indicative rather than a rate card, with real pricing negotiated
  • Interchange++ means the card cost varies per transaction rather than being a single predictable percentage
  • Alternative payment methods carry their own rates on top, such as 3.3 percent plus $0.10 for American Express in North America

Modern Treasury

  • You must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • Pricing rests on an annual minimum commitment, and companies that miss their volume forecast pay the minimum regardless, which makes the headline per-transaction rate close to irrelevant in year one.
  • Supported bank connectivity is a finite list, so if your bank is not on it you are either waiting for an integration or changing banks, which is a far larger project than adopting the software.
  • It is software over banking, not banking, so it does not solve card issuing, deposit accounts or the licensing questions that a company embedding financial products still has to answer elsewhere.
  • The ledger is genuinely good but adopting it properly means making it the source of truth for balances in your product, which is a significant application change rather than a payments integration and is where implementations run long.

Pricing, plan by plan

Adyen

$0.13/per-transaction
  • Transaction-Based Pricing$undefined/mo
    • Fixed $0.13 USD per transaction
    • Variable fee determined by payment method
    • No setup fees

Modern Treasury

On request
  • Modern Treasury Platform$undefined/year
    • Platform access fee covering API, dashboard, infrastructure and support
    • Usage-based fees across ACH, wires, RTP, FedNow, push to card, cheques and stablecoins
    • A single annual minimum commitment that both platform and usage fees count towards

Which should you pick?

Choose Adyen if

  • You need payment processing.
  • You work on Web, Api, Pos.
  • You also want risk management.
Adyen review

Choose Modern Treasury if

  • You need multi-rail payment initiation.
  • You also want bank connectivity.
Modern Treasury review

Questions people ask

Is Adyen or Modern Treasury better?
Neither clearly leads. Adyen starts at $0.13/per-transaction and Modern Treasury at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Adyen or Modern Treasury?
Adyen starts at $0.13/per-transaction and Modern Treasury at On request.
Does Adyen or Modern Treasury run on more platforms?
Adyen runs on Web, Api, Pos. Modern Treasury runs on Web.
What is Adyen best used for?
Adyen is most often used for card acquiring with interchange plus pricing for larger merchants, accepting local payment methods across multiple countries, settling in several currencies through linked bank accounts, unified online and in-person payments. Of those, card acquiring with interchange plus pricing for larger merchants and accepting local payment methods across multiple countries are not what Modern Treasury is typically brought in for.
What can Adyen do that Modern Treasury cannot?
Adyen covers Payment processing, Risk management, Unified commerce, Issuing. Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

Adyen: How much does Adyen charge per transaction?

Adyen charges a fixed $0.13 USD per transaction plus a variable fee based on the payment method used. Credit cards typically cost $0.13 + 0.60% + interchange, while digital wallets and BNPL options cost between $0.13 + 0.99% to $0.13 + 4.99%+, depending on the specific method and region.

Source
Modern Treasury: Is Modern Treasury a bank or a banking as a service provider?

Neither. You hold your own bank accounts and it is software over them. That avoids sponsor bank concentration risk but means you need the bank relationship yourself.

Adyen: Does Adyen have monthly subscription or setup fees?

No, Adyen has no setup fees or monthly recurring charges. You pay only for each transaction processed. The transaction fee structure remains the same regardless of transaction volume or business size.

Source
Modern Treasury: What does it cost?

Not published. A platform access fee plus usage fees across rails, on an annual term with a single minimum commitment. Negotiate the minimum, not the per-transaction rate.

Adyen: What's Adyen's Interchange++ pricing option?

Adyen offers an Interchange++ transparent pricing model that passes interchange and scheme fees directly to merchants instead of bundling them into a percentage rate. This allows visibility into exact costs for each payment method.

Source
Modern Treasury: Which rails are supported?

ACH, wires, RTP, FedNow, push to card, cheques and stablecoin payments, subject to what your bank supports.

Adyen: Can I process payments in multiple currencies with Adyen?

Yes, Adyen supports 100+ payment methods across multiple currencies. You can link multiple bank accounts in different currencies to avoid currency conversion fees on international transactions.

Source
Modern Treasury: Do we still need our own compliance programme?

Yes. KYB, KYC and transaction monitoring are included in the platform, but you are the one holding the accounts and the regulatory obligation sits with you and your bank.

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