Adyen (AMS: ADYEN) has partnered with Swedish home furnishing business IKEA.
The new partnership with Adyen will allow IKEA to “connect the dots between in-store and digital sales channels and offer better payment and loyalty experiences for customers.”
Utilizing Adyen’s single financial technology platform to “gather customer payment data from both physical and digital channels enables partners to uncover holistic customer insights within their framework.”
By gathering payment data from all sales channels on one platform, partners are able to identify shopping behaviors “across channels, creating business opportunities pertaining to lifetime customer value across all categories of customer relationships.”
Adyen’s single financial technology platform “provides a closed-loop payment system offering worldwide processing, acquiring, local payment methods and like-for-like settlement capabilities for IKEA franchisees.”
This reduces the amount of contracts and integrations “for global IT operations, enabling simplified financial reporting and management of customer data.”
Adyen’s consolidation of the tech stack behind commercial operations also “helps to minimize the risk of operational disturbances and the ability to troubleshoot.”
As covered, Adyen is the financial technology platform for companies. By providing end-to-end payments capabilities, “data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster.”
With offices around the world, Adyen explains that it works cooperatively with the likes of Meta, Uber, H&M, eBay, and Microsoft.
The collaboration with IKEA underlines Adyen’s continuous growth “with existing and new customers over the years.”
As mentioned in the announcement, the IKEA retail business is operated “through a franchise system with franchisees that are authorized to market and sell the IKEA product range within specified geographical territories.”
Inter IKEA Systems B.V. is the owner of the IKEA Concept and worldwide IKEA franchisor, who also “assigns different IKEA companies to develop the range, supply products and deliver communication solutions. Today, 12 different groups of companies own and operate IKEA sales channels under franchise agreements with Inter IKEA Systems B.V.”