PriyaPatel
TLDR:
– SAP has released a new cloud payment solution for retailers called SAP Commerce Cloud open payment framework.
– The framework allows retailers to integrate multiple third-party payment service providers based on their specific needs and use cases.
Full Article:
SAP has introduced a new composable payment solution, SAP Commerce Cloud open payment framework, to assist retailers in adapting to evolving customer expectations. This solution enables retailers to be more agile as new payment options, like buy now, pay later, gain popularity. The framework integrates SAP Commerce Cloud with various third-party payment service providers such as Stripe, Adyen, Worldpay, and Airwallex, based on the retailer’s specific requirements.
The composable architecture of SAP allows retailers to choose payment partners that align with their unique needs and international markets, empowering them to scale their business and avoid reliance on a single provider. Sven Denecken, Senior Vice President and Global Head of Product Marketing for SAP Industries & CX, emphasized the importance of SAP’s industry expertise in delivering seamless customer experiences that reinforce brand promises with every interaction.
The no-code, low-code framework provides retailers with a cost-effective, adaptable, and agile payment system tailored to their business and customer needs. It covers common payment processes like authorization, capture, refunds, and re-authorization, along with automatic updates to ensure security and compliance standards.
Overall, SAP’s new cloud payment solution aims to help retailers navigate digital commerce needs, manage digital transformation, achieve sustainable growth, and meet industry expectations while providing a flexible and tailored payment system that aligns with their business goals.
