SAP Unveils Commerce Cloud Framework For Payments

Republished By Plato

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SAP SE has unveiled a solution aimed at equipping retailers
with the flexibility needed to navigate swiftly evolving consumer payment
preferences. The announcement, made yesterday (Thursday), introduces the SAP
Commerce Cloud Open Payment Framework, designed to empower retailers to stay
ahead of changing customer expectations.

The landscape of retail has been continually reshaped by
emerging payment options such as ‘buy now, pay later,’ prompting retailers to
adapt rapidly. SAP’s latest innovation addresses this demand for agility by
integrating its renowned SAP Commerce Cloud platform with a plethora of
third-party payment service providers (PSPs), including Stripe, Adyen,
Worldpay, and Airwallex.

Sven Denecken, SVP, Global Head of Product Marketing, SAP SE, Source: LinkedIn

“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, the 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.”

Key to the solution’s appeal is SAP’s composable
architecture, which allows retailers the freedom to select payment partners
tailored to their unique requirements and geographic markets. This modular
approach not only enables retailers to build at their own pace but also
facilitates rapid scalability while avoiding dependence on a single provider.

Elevating the Customer Checkout Experience

The seamless integration capabilities of SAP Commerce Cloud
streamline the adoption of PSPs, eliminating the complexity associated with
integrating and deploying extensions to the commerce codebase. Moreover, the
framework’s extensibility and headless architecture ensure that front-end and
back-end operations remain decoupled, empowering retailers to cater to diverse
channel requirements and seamlessly incorporate new solutions.

The solution focuses on enhancing the customer checkout
experience. By offering a wide array of payment methods and ensuring a smooth,
frictionless process, retailers can boost customer satisfaction and loyalty.

One of the notable features of the SAP Commerce Cloud Open
Payment Framework is its no-code, low-code approach, which provides retailers
with a cost-effective, adaptable, and agile payments system. Covering a
comprehensive range of payment needs and end-to-end processes, including
authorization, capture, refunds, and re-authorization, the solution prioritizes security and compliance standards.