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Italian fashion house Prada is adopting omnichannel payments technology from Adyen NV in a bid to build a single financial technology platform across all its retail channels.
Tap to Pay on iPhone in Prada’s U.S. locations and its Milan store is a centerpiece of the partnership, Adyen says, and potentially frees customers to pay where they want inside a store. Tap to Pay on iPhone enables merchants to accept contactless payments on standard iPhones without needing special hardware. Adyen says the NFC-based payment method is in use in Prada stores in the United States, United Kingdom, France, and in Milan. Plans are to expand the technology to all Prada stores. As of December, Prada says it has 428 directly owned stores and 20 franchise locations, with 102 in the United States.
Notably, the card brands set no transaction limits on contactless payment value in the United States. A pair of Prada suede loafers retails for $990 and a Prada Buckle handbag sells for $6,100. Credit and debit card issuers may have transaction limits, however.
Prada added Pay by Link and click-and-collect payment options, too. Pay by Link lets customers use a secure payment link that is hosted by Adyen, but created by the merchant. Adyen’s click-and-collect feature enables merchants to offer a buy online, pick up in store service.
Amsterdam-based Adyen also is building the platform to tie all of Prada’s transaction data into a single access method. This single view of customer transaction activity will enable Prada to tailor each customer interaction, whether that’s online, in-store, or another scenario, Adyen says.
