By integrating payment services, Adobe merchants will have access to a payment solution that can be managed from their Adobe Commerce Admin, instead of integrating with third-party payment providers.
“Organisations demand flexibility and extensibility in their commerce platform to sustain business growth and cater to customers,” comments Adobe vice president Adobe experience cloud product and strategy Amit Ahuja.
“The addition of payment services will expand our commerce feature designed to help merchants win in the digital-first economy,” Ahuja says.
Merchant benefits of payment services for Adobe Commerce will include:
Easily accept and process payment methods: Adobe merchants will be able to accept popular payment methods, including credit and debit cards, PayPal and Venmo, to deliver options for customers. Merchants will also 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 experiences: Payment services will be a fully-integrated experience in which all payment and transaction data will be readily accessible within the Adobe Commerce Admin.
Adobe says 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, analyse, and verify sales information.
Competitive processing fees: Merchants will have access to tiered rates based on processing volume.
Advanced financial reporting capability: Payment services will offer reporting capabilities to provide merchants with a view of their store’s orders and payments, including details about processed volume, payment balance, and transaction-level reporting for financial reconciliation.
With the financial documents, Merchants will be able to better run their business and spot anomalies in order placements and post-sales flows. They will be able to see the complete order flow from when an order is placed, all the way to settlement in a single dashboard.
“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,” concludes IDC research director digital commerce Jordan Jewell.
“With payment capabilities now in its product portfolio, Adobe is in a position to support its merchants as a platform provider that can streamline commerce operations across the customer journey.”