SAP Introduces New Cloud Payment Solutions for Retailers

SAP has unveiled a new composable payment solution aimed at helping retailers stay competitive amid evolving customer expectations, according to Fintech News America. The solution, SAP Commerce Cloud’s open payment framework, is designed to enhance retailers’ agility in response to the rising popularity of new payment options such as buy now, pay later.

The framework seamlessly integrates SAP Commerce Cloud with a variety of third-party payment service providers (PSPs), including Stripe, Adyen, Worldpay, and Airwallex, catering to specific use cases. SAP’s composable architecture empowers retailers to select payment partners that align with their unique requirements and international market strategies. This flexibility enables retailers to innovate at their own pace, accelerate business growth, and avoid dependence on a single provider.

According to Sven Denecken, Senior Vice President and Global Head of Product Marketing for SAP Industries & CX, «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.»

The no-code, low-code framework offers retailers a cost-effective, adaptive, and agile payment system tailored to their business and customer demands. It addresses various payment requirements and end-to-end payment processes, including authorization, capture, refunds, re-authorization, and automatic updates to comply with security and compliance standards. SAP’s industry-focused approach to composability prioritizes retailers’ digital commerce needs, facilitating their digital transformation, fostering sustainable growth, and meeting industry expectations.