Adobe Inc has recently launched payment services to its eCommerce offering Adobe Commerce. The platform that caters to B2B, B2C and D2C merchants now offers payment solutions as a built-in capability. Adobe Inc has come up with this improvement in partnership with PayPal, the technology partner powering the solution.
What does this mean for merchants?
Merchants, big or small, will now have access to integrated and secured Adobe payment solutions. The store admin can easily handle the payment solution without depending on integrating third-party payment service providers.
Availability of Adobe Payment Services for Merchants
The payment gateway will be available for Adobe Commerce, Adobe Commerce Cloud, and Magento Open Source users.
For merchants in the U.S., Adobe will roll out the service in the fourth quarter of 2021. For other regions like Canada, Australia, and Western Europe, Adobe has scheduled the release in 2022.
Top 5 Benefits of Adobe Payment Services
#1 Support for preferred payment methods
Adobe Commerce merchants will be able to easily accept and process the most popular payment methods, including credit and debit cards. Adobe Payment services also support PayPal and Venmo.
Additionally, merchants can also offer PayPal pay later option for their customers, helping them bank on the buy now, pay later (BNPL) service, which has gained widespread popularity in the recent past.
#2 Integrated with Admin console
Key transaction and payment data will be accessible for merchants through their admin dashboard. The payment solution also eliminates the need for merchants to use multiple logins that gives a disconnected user experience for payment processing. So, retrieving reports from various payment systems and analyzing them becomes easy.
#3 Competitive processing fees
Merchants can provide users with competitive pricing for transactions and offer tiered transaction pricing based on the volume.
#4 Advanced reporting
Merchants will have a holistic view of the store’s payments and orders, allowing them to generate reports with details like processed volume, payment balance and so on. The dashboard will offer an end-to-end view of orders from placement to fulfillment. The advance reporting will help merchants identify anomalies in order placements and streamline after-sales measures effectively.
#5 Fortified and up-to-date
Merchants won’t have to keep looking for updates from third-party payment gateways for security and feature updates. Version upgrades and releases can be quickly integrated. Also, merchants need not deal with the hassle of checking out the compatibility of a payment gateway while upgrading to the newer versions of Adobe Commerce.
How is Adobe expanding its portfolio of out-of-the-box features?
Adobe has been keen on expanding its portfolio of out-of-the-box features with an aim to provide end-to-end solutions that enable merchants to sell online hassle-free.
Adobe Sensei – As a part of this motive, Adobe bestowed its commerce platform Adobe Commerce (earlier Magento) with its AI-powered product recommendation engine, ‘Adobe Sensei.’ Adobe Sensei leverages analytics on user behavior like preferences, search history, etc., to recommend relevant products that increase conversions.
FedEx – In April 2021, Adobe partnered with FedEx, the industry-leading shipping service provider, to offer merchants and consumers flexibilities like two-day shipping, easy returns, seamless checkout, and more.
The missing piece – Payment solutions was the missing piece that Adobe needed to establish Adobe Commerce as the platform that comprehensively covers all the key commerce capabilities. With PayPal-powered payment solutions, the brand has got that covered too.
Gearing up to take on competition
Adobe’s rivals like Shopify provide merchants with their own payment methods. In 2020, more than two-thirds of Shopify’s $2.93 billion in revenue came from its merchant services segment that includes payments.
“Adobe’s move is similar to Shopify in some ways, but it’s also just trying to monetize different portions of what a seller needs to do to sell online,” according to Jordan Jewell, research director for digital commerce at IDC.
With the release of Adobe’s payment services, the brand has moved a step further in making Adobe Commerce an end-to-end platform that offers everything merchants need to sell hassle-free. Adobe has more such innovations lined up. The platform has also released its latest version, 2.4.3, for its users. Keep watching the space for more such updates from Adobe’s stable.
If you are an eCommerce brand looking for a partner to handle your integration or support and maintenance responsibilities, Ziffity can help.