SAP Unveils Agile Payment Solution and Reveals Consumer Preference for Sustainable Returns
SAP made several announcements at Shoptalk, including a new ‘composable payment solution’ and fresh consumer research about returns. The solution, called SAP Commerce Cloud, is an open payment framework that allows retailers to cherry-pick payment partners tailored to their unique needs and international markets, enabling them to build at their own pace, scale their business faster, and avoid being confined to a single provider.
Flexible payment options are becoming increasingly important for retailers.
The third-party payment service providers SAP has teamed with include Adyen, Airwallex, Stripe, and Worldpay. This move aims to help retailers and brands offer shoppers more flexible payment options, such as buy now, pay later.
“The ability to offer flexible payment options is crucial for retailers who want to stay competitive in today’s market.”
SAP’s research also revealed that consumers are increasingly prioritizing sustainability when it comes to returns. The company found that 70% of consumers consider the environmental impact of their purchases, and 60% of consumers are more likely to shop with retailers who offer sustainable returns.
Consumers are increasingly prioritizing sustainability when it comes to returns.
“Retailers need to adapt to changing consumer preferences and prioritize sustainability in their operations,” said an SAP spokesperson.
The company’s research also highlighted the importance of offering flexible payment options, with 80% of consumers saying they are more likely to shop with retailers who offer flexible payment options.
Flexible payment options are key to driving sales and customer loyalty.
In conclusion, SAP’s new payment solution and research on consumer preferences highlight the importance of flexibility and sustainability in retail. As consumers become increasingly environmentally conscious, retailers must adapt to stay competitive.
