Adobe Commerce has informed that it is preparing its new payment service for e-commerce. This new solution will help merchants integrate payment gateways without counting on third-party payment providers. In addition, the service will serve to compete with Shopify, one of its great rivals.
The payment service Adobe Commerce It will be supported by the PayPal trading platform. Therefore, payment methods such as cards, PayPal or Venmo can be accepted. Cryptocurrencies will also be welcome, since their ally allows their use.
“In today’s fast-moving digital economy, organizations demand flexibility and extensibility in their commerce platform to sustain business growth and deliver seamless customer experiences.“, said Amit Ahuja, Vice President of Product and Strategy for Adobe Experience Cloud at Adobe.
Benefits of using the Adobe Commerce payment solution
- Fully integrated payment experience: Payment services will be a fully integrated experience for merchants in which all payment and transaction data will be easily accessible within Adobe Commerce Admin. Merchants will no longer have to deal with multiple logins and other disjointed user experiences for their payment processing, such as exporting and importing reports from multiple systems to reconcile, analyze and verify sales information.
- Competitive processing fees: the merchants will have access to convenient and competitive prices for transactions with tiered fees based on the volume of processing.
- Advanced financial reporting capabilities: Payment services will offer comprehensive reporting capabilities to provide merchants with a clear view of their store’s orders and payments, including details on volume processed, balance of payments, and transaction-level reporting for financial reconciliation. With these reports, merchants will be able to better manage their business and detect anomalies in order placement and after-sales flows more efficiently. Additionally, merchants will be able to view the entire order flow from order placement to settlement in a single dashboard.
- Always updated and sure: Since payment services will be developed and supported by Adobe, merchants will always have access to up-to-date, secure, and stable services. Merchants will not have to deal with compatibility issues with the third-party payment processor extension when updating to the latest version of Adobe Commerce.
“With digital commerce accounting for a growing share of all transactions, merchants are looking for tools that enable them to power the front-end capabilities and back-end operations of their digital storefronts. Payments are one of those key capabilities that we’ve seen grow in importance over the last 18 months. “, said Jordan Jewell, Director of Digital Commerce Research, IDC. “With payment capabilities now in its product portfolio, Adobe is better positioned to support its merchants as a platform provider that can streamline business operations throughout the customer journey.”
Adobe started providing eCommerce solutions when it acquired Magento Commerce in 2018 for 1,680 million dollars, therefore, this function will also be available to users of this platform.
The first country that will be able to enjoy this solution is USA, which will do so from fourth quarter of 2021. Then it will be the turn of Canada, Australia and Western Europe in 2022.