As global trade dynamics shift, tariffs and payment systems have become increasingly intertwined, with direct implications for both operational efficiency and customer experience. For a retailer like IKEA, navigating these challenges at scale demands constant adaptation and forward-thinking strategy.

Ahead of the MAG Payments Summit-London 25, Taco de Vries, Managing Partner at Payments Consulting Network, sat down with Sam Langsford, Inbound Payment Specialist at IKEA Group. While looking ahead at the upcoming event, they discussed the evolving landscape of payments, balancing cost-efficiency with customer needs, and IKEA’s path toward a sustainable, streamlined future.

Read the full interview below.

Taco de Vries: What are the unique challenges IKEA faces in managing payments across different markets, and how are these being addressed?​

Sam Langsford: At Ingka Group, the largest global franchisee of the IKEA brand, we strive to keep costs low, to keep product prices low, so that as many people as possible can afford them. Payment solutions, therefore, must create value at a low cost to be viable. We want to offer the customer the method of payment they would like to use, but striking a balance between the two is often difficult. Then, of course, there are non-competitive market situations, where the cost is ever-increasing, or there is no incentive to optimise back-end functions such as reconciliation. Cost pressure is a constant. Our perpetual focus on our core values and our mission towards the many people keeps us anchored to make the right balance of choices in our payment setup.

TV: What trends do you foresee shaping the future of payments in your industry, and how is Ingka preparing for these changes?

SL: The pace of change in how our business meets the customer, new sales channels, payments options and regulation in almost every market is increasing faster than ever before. Keeping up with that change will be a case of survival of the agile. So, I see a great relevance for omnichannel services that take away the burden of streamlining payments activities and change management from the merchant. Ingka is on its own transformation journey now, to standardise and automate. The outcomes should enable us to react quickly and influence.

TV: Ingka is known for its sustainability focus. Are there ways you’re integrating sustainability into payment processes, such as digital receipts, paperless invoicing, or eco-conscious fintech partnerships?

SL: Sustainability is a cornerstone of what we do at Ingka Group, and payments is no exception. We launched our new climate targets to halve absolute emissions across the value chain by 2030, contribute to emissions reductions in society and reach net zero by 2050 at the latest. We have already reached 30.1% reduction in our total climate footprint against our FY16 baseline and our target of 50% by FY30, within which payment services are measured as part of scope 3.

TV: Could you share insights into how Ingka evaluates and collaborates with payment service providers or fintechs?

SL: Considering the absolute requirement for value for money, supporting our standardisation and automation transformation, and meeting our customers’ own demands, Ingka is a tough customer when it comes to payments partners, but once we establish a partnership, we value and cultivate it to grow as one. We have some great examples of suppliers who feel connected to our values and our mission, which helps us provide a great payment service across our product offer.

TV: How have international trade tariffs and geopolitical tensions influenced Ingka’s payment operations, cross-border pricing strategies, or supply chain-related financial flows?

SL: Ingka’s CEO and CSO has made public his comments on this topic: “In general, we don’t believe tariffs will support international companies and international trade. At the end of the day, that risks ending up on the bills of customers. But it’s beyond our control. We will need to understand and adapt.” As the situation evolves, we wait and see how payments might be impacted.

TV: What are you particularly looking forward to for the upcoming MAG Europe event?

SL: We are proud to support the MAG, and in general any efforts to unite the global merchant community in making payments work better for everyone. I am confident I will come away with at least a handful of new great network connections that can further enhance our mission for the many people. The MAG has always felt like a community where merchants can offer freely their opinions and ideas to truly make the conversations insightful.

TV: Is there anything else you would like to share with the readers in anticipation of the MAG Europe event?

SL: I’m really excited already by the attendee list at this year’s event. It’s an opportunity not to miss for anyone looking to feel the pulse of the payments industry at customer level.

TV: Sam, thank you for sharing your insights!

SL: Thank you! It’s been a pleasure discussing how we’re balancing the challenges and opportunities in global retail payments at Ingka.

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Payments Consulting Network is a media partner of MAG Payments Summit-London 25 and MAG Payments Summit – Singapore 25.

MAG Payments Summit-London 25 will be held from 9-11 June 2025 in London, UK. Please visit the event’s official page here for more information and tickets.

On the other hand, MAG Payments Summit – Singapore 25 will be on 7-9 Oct 2025 at Marina Bay Sands, Singapore. Add this event now to your calendar.

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Author: Taco de Vries, Managing Partner, Payments Consulting Network and Payments Advisory Group.

With over two decades of global experience in the payments industry, Taco advises financial institutions, payment providers, and large corporates and retailers on optimising their payments ecosystem while navigating complex market dynamics, changing customer demand and expectations in the payments domain.

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