Global financial technology platform Adyen has announced its plans to support LVMH in unifying its payment systems across all its Maisons.
Currently, Adyen’s solutions are live in approximately 50 of LVMH’s Maisons globally, including fashion and leather goods, hospitality, watches and jewellery, beauty, and department stores.
How will Adyen support LVMH’s synergy strategy?
Through this strategy to solidify synergies, LVMH is assisting in the adoption of best practices across its Maisons. The goal is to utilise the group’s most effective initiatives and expand them, while also maintaining each Maison’s unique identity and standards. To achieve this, LVMH selected Adyen as its global payment partner in 2020, aiming to unify in-store and online payment infrastructures and provide a simplified and customer-centric user experience.
By implementing Adyen’s solutions, LVMH has witnessed several benefits from the first deployment phases, including an optimal in-store experience through mobile terminals and Tap to Pay technology, a minimisation in manual entry, automation of reconciliation and end-of-day processes, and a unified approach to payments through a single partner that can cover all channels, geographies, and methods.
Furthermore, having over 1,000 launched globally across Europe, APAC, and the Americas, the project’s capabilities also rely on customised, boutique-to-boutique support. According to LVMH’s officials, the project comes as part of the group’s broader commitment to offer an augmented customer experience. Additionally, representatives from Adyen highlighted that the collaboration with LVMH reflects a shared vision between the two companies, specifically developing meaningful experiences for customers in high-end retail. Besides facilitating financial services, the two companies plan to focus on improving every touchpoint across LVMH’s Maisons to make sure that shoppers benefit from an optimal client journey.
This unification initiative is set to expand across more Maisons, solidifying a shared goal to provide a payment experience that is efficient, optimal, and global.
