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December 11, 2019

Wirecard enables installment payments for IKEA Malaysia customers

IKEA has joined forces with German payments firm Wirecard to enable its customers in Malaysia to make installment payments for in-store purchases.

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The retailer has incorporated the installment payment solution into its checkout terminals.

The solution can be availed by customers who spend at least MYR500 ($120.11) at IKEA Malaysia outlets.

With the solution, those having a credit card from participating banks can make payments for big-ticket items.

Customers can choose their payment method directly at the checkout. IKEA will be able to process multiple payment options via one in-store terminal leveraging the unified solution of Wirecard.

Wirecard regional managing director Jeffry Ho said: “With the new solution, consumers can opt to spread their payments over a certain period at no additional cost, while boosting customer satisfaction for IKEA Malaysia at checkout.

“We look forward to bringing the new solution to other IKEA stores and merchants across the region.”

Wirecard has already launched in-store and online installment plans in its home market Germany. The company plans to make the in-store installment payment solution available across IKEA stores in Singapore and Thailand eventually.

IKEA Southeast Asia deputy retail manager Gerard Jansen said: “The new feature gives our customers an added bit of flexibility and convenience – and contributes to a seamless shopping experience.”

Recent partnerships

Wirecard has powered digital payments for various retailers this year.

In October 2019, the company partnered with SES-imagotag to accelerate the adoption of frictionless in-store mobile payment.

Earlier this year, the payments firm partnered with WHSmith, Apollo , Elush Retail Group, and  Segmüller , among others.

Free Report
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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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