SAP Announces New Commerce Cloud Payment Solution, Drawing on Vast Partner Ecosystem to Help Retailers Gain an Edge
Summary of Development
SAP has introduced an open payments framework within its Commerce Cloud, facilitating seamless integration with various third-party payment service providers, including Stripe, Adyen, WorldPay, and Airwallex. This initiative empowers merchants to select payment partners according to their specific requirements and global market strategies, enabling flexible growth without reliance on a single provider. The framework is designed to be extensible and headless, allowing for independent operation of the front end and back end, thus accommodating diverse channel needs and facilitating the integration of new solutions like buy now, pay later.
Sven Denecken, SAP's SVP and global Head of Product Marketing for Industries & CX, emphasized the retailer-centric approach of SAP's approach to composability, focusing on aiding digital commerce transformation and sustainable growth. The framework offers a no-code, low-code environment covering various payment processes and compliance standards, with plans for general availability in the second half of 2024 after the beta phase.
Link: https://news.sap.com/2024/03/sap-announces-new-commerce-cloud-payment-solution/