From the high street newsagent and the visiting fayre, to your child’s pitch-side football fees and the train station car park – not having any cash in your pocket no longer means not being to access a product or service. Digital and contactless payments have skyrocketed in the past few years, changing the way we pay for things in every-day life.
The same can be seen in digital commerce, with customers now expecting a wide range of payment methods and quick and easy checkouts online. Merchants must be flexible and adapt, or lose out to retailers that are giving customers the choice they want.
Which is why the news that Adobe is adding Payment Services to the Adobe Commerce platform has been met with such positivity.
In a matter of months, Payment Services will be integrated into the platform, meaning merchants will be able to access the payment solution straight from Admin, instead of integrating with third party payment providers.
In effect, Adobe is making the whole payment process even easier for merchants and helping them prepare better for the digital future.
Redbox Digital’s CEO, Jonty Sutton, believes it’s a positive step that will help lay a solid digital foundation for merchants and solidify Adobe Commerce’s growing reputation in the market.
He said: “Having a simple and flexible payment process and checkout is crucial for today’s digital retailers.
“It can be the difference between an easy sale and keeping a customer returning for life – and a bad review, that can have a damning impact on the business.
“We have exceptional relationships with our third-party payment partners who work closely with us to help create seamless digital stores for some of the biggest brands in the world.
“But this is another important step for Adobe as it continues to improve the Adobe Commerce platform.
“It will not only ensure even better out-of-the-box features to help merchants navigate the digital economy more easily, but help reduce their time to market.”
Payment Services for Adobe Commerce will be powered by the PayPal Commerce Platform and available to Adobe merchants by the end of the year. Online retailers will be able to process a variety of payment types including credit and debit cards, PayPal’s payment system and buy now-pay later offerings.
With one eye on what is happening around the world, it will also look to support cryptocurrency transactions in the future.
Benefits for merchants include:
- Easily Accept and Process Payment Methods: the ability to accept payment methods, including credit and debit cards and PayPal, to deliver seamless checkout experiences for customers – and offer PayPal pay later solutions in their storefront.
- Fully-Integrated Payment Experience: Payment Services will be fully-integrated with all payment and transaction data accessible within the Adobe Commerce Admin. Merchants will no longer need multiple logins and other disjointed user experiences for their payment processing, such as exporting and importing reports from multiple systems.
- Competitive Processing Fees: Access to convenient and competitive pricing for transactions with tiered rates based on processing volume.
- Advanced Financial Reporting Capability: Comprehensive reporting capabilities to understand the store’s orders and payments, including details about processed volume, payment balance and transaction-level reporting. With this feature, merchants can spot anomalies in order placements and post-sales flows, more efficiently.
- Better Security: Being developed and supported by Adobe, means merchants will know services 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.
Up until now, Redbox Digital has worked closely with third party payment partners such as Klarna to provide and implement the wide range of payment solutions merchants need on their platform. While these relationships will continue to work in tandem, Adobe Payment Services brings a more integrated proposition to the platform from the beginning.
The payment processing deal with PayPal is not exclusive, and Adobe may work with other processors as it moves forward, offering further scope for expansion and integration.
For Amit Ahuja, vice president of Adobe Experience Cloud Product and Strategy at Adobe, the addition of Payments Services brings more flexibility and robustness to the platform for merchants and customers.
He added: “In today’s fast-moving digital economy, organisations demand flexibility and extensibility in their commerce platform to sustain business growth and deliver seamless experiences for their customers.
“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.”
Payment Services will be available to merchants in the US by the end of the year before moving into other regions. Want to know more? Give Redbox a call today