Adyen has partnered with Swedish home furnishings giant IKEA to enhance payment and loyalty experiences for the latter’s customers.
Under the agreement, Adyen’s unified financial technology platform will consolidate customer payment data from both in-store and online transactions. This will enable IKEA to gain comprehensive insights into customer behaviour within a single framework.
By aggregating payment data from all sales channels, IKEA can better understand shopping patterns across different platforms. This view allows the company to identify new business opportunities and enhance customer relationships, ultimately focusing on maximising lifetime customer value.
Additionally, Adyen’s platform offers a comprehensive closed-loop payment system that supports global processing, acquiring, local payment methods and like-for-like settlement for IKEA franchisees.
This approach aims to reduce the need for multiple contracts and integrations in global IT operations, streamlining financial reporting and customer data management. By consolidating the technology stack behind commercial operations, Adyen also seeks to minimise operational disruptions and simplify troubleshooting.
Tobias Lindh, Managing Director of Adyen Nordics and Baltics, said: ’We are proud to partner with the IKEA business to help scale their efforts to understand their customers and the behaviours that lead to long-term relationships with the iconic brand.”
Adyen has recently experienced significant growth and is optimistic about sustaining this momentum following the release of its H1 financial results earlier this month.
The company’s global expansion, including recent milestones such as registering in Mexico, was helped by its partnership with IKEA Mexico, which it described as one of several ‘wins’ which have ‘‘continued laying the foundation in LatAm’.
