SAP Rolls Out New Cloud Payment Solutions for Retailers

SAP Rolls Out New Cloud Payment Solutions for Retailers

SAP announced a new composable payment solution to help retailers stay ahead of changing customer expectations.

The new solution, SAP Commerce Cloud, open payment framework, helps retailers become more agile as new payment options – such as buy now, pay later – gain popularity.

The framework integrates SAP Commerce Cloud with numerous third-party payment service providers (PSPs), including Stripe, Adyen, Worldpay and Airwallex, based on their specific use case. Additionally, SAP’s composable architecture allows retailers to pick payment partners tailored to their unique needs and international markets, enabling them to build at their own pace, scale their business faster and avoid being confined to a single provider.

Sven Denecken

Sven Denecken

“SAP’s unmatched industry expertise is the foundation of our strategy, as it enables us to deeply understand the complexities of delivering seamless and positive customer experiences that reinforce the brand promise with every interaction,”

said Sven Denecken, Senior Vice President and Global Head of Product Marketing for SAP Industries & CX.

“SAP’s unique, industry-led approach to composability places the retailer’s digital commerce needs front and center while we work with them to manage their digital transformation, navigate pathways to sustainable growth, and deliver on industry expectations.”

This no-code, low-code framework gives retailers a low-cost, adaptive, and agile payments system that can best fit their business and customer needs. It covers common payment needs and end-to-end payment processes across authorization, capture, refunds, and re-authorization as well as automatic updates with security and compliance standards.

 

This article first appeared on fintechnews.ch

 

Featured image credit: edited from freepik

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