Outperformance of Luxury Retail Sector Sparks Global Payments and eCommerce Pact

Omnichannel digital commerce platform XY Retail has partnered with FinTech business payments company Adyen to help luxury retailers manage in-person and online payments globally.

With the partnership, luxury retailers will be able to handle all aspects of their commerce and payment needs with a single cloud-based solution, according to a Wednesday (Aug. 24) press release .

“The partnership with Adyen will mean that more of our customers can seamlessly manage in-person and online payments globally through XY, while introducing mobility, streamlining workflows and providing an improved consumer experience,” XY Retail CEO Susan Jeffers said in the release.

With the new offering, XY Retail’s tech stack that centralizes data across point-of-sale (POS), eCommerce, customer, catalog, inventory and sales will now include Adyen’s payment processing tools to deliver an omnichannel experience with frictionless transactions, the release. stated

As a result, retailers will be able to connect with customers across all devices in a single solution for payments, data and financial management, per the release.

“For XY customers, integrating their physical and digital businesses is crucial, and that includes payments,” Jeffers said in the release. “We are seeing hybrid shopping take on greater importance for consumers.”

The distinction between digital eCommerce and in-person interactions has been narrowing, and that will continue over the next five to 10 years until eventually it disappears, Adyen North America President Brian Dammeir told PYMNTS in a March interview.

Read more: Adyen Says Platforms Help Online Merchants Borrow the Best of in-Store Experience

“What we’re finding is that merchants and customers are looking forward to what we call unified commerce,” Dammeir said. “Whether it’s via an app, in person, a terminal, a card, what have you, merchants are realizing that they’re going to need to offer all those flows because different consumers are going to be expecting different things.”

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