SAP Introduces Open Payments Framework

Published about 1 month ago

SAP has unveiled an open payments framework that allows merchants to connect with various third-party payment service providers. The platform includes Stripe, Adyen, WorldPay, and Airwallex, among others.

Enabling Merchant Flexibility

Through the SAP Commerce Cloud, retailers can select payment partners that best suit their specific needs and international markets. This flexibility allows businesses to grow at their own pace without being limited to a single provider.

The framework is extensible and headless, ensuring that the front end and back end function independently. This structure provides the opportunity to meet a wide range of channel requirements and incorporate new solutions such as ‘buy now, pay later’ options.

An Industry-Led Approach to Composability

Sven Denecken, SVP and global head of product marketing for SAP Industries & CX, highlights SAP’s industry-led approach to composability. The framework prioritizes the retailer’s digital commerce needs while aiding them in managing their digital transformation, finding sustainable growth paths, and meeting industry expectations.

Comprehensive Payment Process Coverage

The no-code, low-code framework addresses common payment needs and manages end-to-end payment processes. This includes authorization, capture, refunds, and re-authorization. It also ensures automatic updates align with security and compliance standards.

The payment framework is currently in beta and open for SAP customers to join. It is anticipated to be generally available in the second half of 2024.

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