Business Standard

Adobe jumps into e-com payments business


Adobe Inc on Wednesday said it will add payment services to its e-commerce platform this year to help merchants accept credit cards and other ways of paying, deepening a rivalry with e-commerce firm Shopify Inc. Adobe started providing software to help retailers run their online stores in 2018 when it purchased Magento Commerce from private equity firm Permira for $1.68 billion. Adobe will roll out the new payment system by the end of this year in the US and 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.

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