Adobe jumps into the e-commerce payments business in challenge to Shopify
Adobe will add payment services powered by the PayPal Commerce Platform to its merchant e-commerce platform Adobe Commerce. Merchants will be able to accept credit cards, PayPal, Venmo payments, and other methods of payment, deepening the rivalry with e-commerce giant Shopify.
Adobe will roll out the new payment system by the end of this year in the United States.
Until now, Adobe’s e-commerce customers have had to build their own payment systems. But now, Adobe is tapping PayPal Holdings to process a variety of payment types, including credit and debit cards as well as PayPal’s own payment and pay-later offerings.
Adobe’s Senior Director of Commerce Strategy Peter Sheldon said that “What they’re really looking for is simplicity of operations and having all of their reporting and reconciliation in a single tool set.”
Payments are a big part of the e-commerce business. In 2020, more than two-thirds of Shopify’s $2.93 billion in revenue came from its merchant services segment that includes payments.
