Adobe Announces Payment Services for Adobe Commerce

Rhea-AI Summary

Adobe has announced the upcoming launch of Payment Services for Adobe Commerce, set to debut in Q4 2021. This integrated solution will enable merchants to accept various payment methods, including credit cards and PayPal, directly from their Adobe Commerce Admin. Benefits include competitive processing fees, advanced financial reporting, and a fully-integrated user experience. Supported by the PayPal Commerce Platform, this service aims to enhance operational efficiency for Adobe merchants, facilitating better management of transactions and payments.

Positive

• Launch of Payment Services for Adobe Commerce enhances merchant capabilities.
• Merchants will benefit from various payment options, including PayPal and Venmo.
• Fully-integrated payment experience leads to streamlined operations and reduced administrative burdens.
• Competitive processing fees based on transaction volume increase cost-effectiveness for merchants.
• Advanced financial reporting capabilities offer improved insights for better business management.

Negative

• None.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Adobe (Nasdaq: ADBE) today announced the upcoming availability of Payment Services for Adobe Commerce, the industry’s leading end-to-end commerce application for B2B, D2C and hybrid use cases. By integrating Payment Services to their digital storefronts, Adobe merchants of all sizes will soon have access to a robust, secure, and integrated payment solution that can easily be managed from their Adobe Commerce Admin, instead of having to do the work of integrating with third-party payment providers. Payment Services for Adobe Commerce will be powered by the PayPal Commerce Platform and available to Adobe merchants by the end of the year.

“In today’s fast-moving digital economy, organizations demand flexibility and extensibility in their commerce platform to sustain business growth and deliver seamless experiences for their customers,” said Amit Ahuja, vice president, Adobe Experience Cloud Product and Strategy at Adobe. “With the addition of Payment Services, we’re thrilled to expand on our already robust out-of-the-box commerce feature set to help Adobe Commerce merchants compete effectively and win in the digital-first economy.”

Merchant benefits of Payment Services for Adobe Commerce will include:

• Easily Accept and Process Payment Methods: With Payment Services, Adobe merchants will be able to accept popular payment methods, including credit and debit cards, PayPal and Venmo to deliver the best checkout experience for their customers. In addition, merchants will also be able to offer PayPal pay later solutions in their storefront. According to Adobe Digital Economy Index, the use of buy now, pay later (BNPL) services in the first half of 2021 grew 88% compared to 2019 levels.
• Fully-Integrated Payment Experience: Payment Services will be a fully-integrated experience for merchants in which all payment and transaction data will be readily accessible within the Adobe Commerce Admin. Merchants will no longer have to contend 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: Merchants will have access to convenient and competitive pricing for transactions with tiered rates based on processing volume.
• Advanced Financial Reporting Capability: Payment Services will offer comprehensive reporting capabilities to provide merchants with a clear view of their store’s orders and payments, including details about processed volume, payment balance and transaction-level reporting for financial reconciliation. With this reporting, merchants will be able to better run their business and spot anomalies in order placements and post-sales flows more efficiently. In addition, merchants will be able to see the complete order flow from when an order is placed, all the way to settlement in a single dashboard.
• Always Up-to-Date and Secure: As Payment Services will be developed and supported by Adobe, merchants will always have access to services that are up-to-date, safe, and stable. Merchants won’t have to deal with third-party payment processor extension compatibility issues when updating to the latest version of Adobe Commerce.

By utilizing the PayPal Commerce Platform, Adobe merchants will be able to accept current payment methods – such as PayPal and Venmo – as well as leverage PayPal’s ongoing investment in payment innovations such as support for cryptocurrency transactions and local payment methods in the future.

“As digital commerce represents a growing share of all transactions, merchants are looking for tools that enable them to drive front-end capabilities and back-end operations of their digital storefronts. Payments is one of those key capabilities that we saw grow in importance over the past 18 months,” said Jordan Jewell, research director, digital commerce at IDC. “With payment capabilities now in its product portfolio, Adobe is better-positioned to support its merchants as a platform provider that can streamline commerce operations across the customer journey.”

Timing and Availability

Payment Services will be available to merchants in the U.S. in the fourth quarter of 2021. The feature will also be accessible to merchants using Magento Open Source.

Support for additional territories, including Canada, Australia, and Western Europe, are planned for 2022.

For more information about Payment Services, visit here.

About Adobe

Adobe is changing the world through digital experiences. For more information, visit www.adobe.com.

© 2021 Adobe. All rights reserved. Adobe and the Adobe logo are either registered trademarks or trademarks of Adobe in the United States and/or other countries. All other trademarks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210915005271/en/

Public relations contact

Andrew Cha

Adobe

415-531-7764

acha@adobe.com

Source: Adobe

FAQ

What is the launch date for Adobe Payment Services?

Adobe Payment Services will be available to merchants in the U.S. in the fourth quarter of 2021.

What payment methods will Adobe Payment Services support?

Adobe Payment Services will support payment methods including credit cards, PayPal, Venmo, and PayPal pay later solutions.

How will Payment Services benefit Adobe Commerce merchants?

Merchants will enjoy a fully-integrated payment experience, competitive processing fees, and advanced financial reporting.

Who powers the Payment Services for Adobe?

Payment Services for Adobe Commerce will be powered by the PayPal Commerce Platform.

When will Adobe Payment Services be available outside the U.S.?

Support for additional territories, including Canada, Australia, and Western Europe, is planned for 2022.