Germany-based commercetools has introduced Payment Hub, a new platform designed to give enterprises greater autonomy over their payment strategy.
As part of this initiative, commercetools has strengthened its collaboration with Stripe, which is the first of multiple global payment service providers (PSPs) expected to integrate with the hub.
Unlike traditional commerce platforms that require merchants to use proprietary payment systems and charge fees based on gross merchandise value (GMV), commercetools Payment Hub enables businesses to negotiate directly with PSPs. This approach aims to reduce processing costs and improve profitability. The platform includes pre-configured integrations and a streamlined setup process, allowing businesses to implement their payment solutions rapidly.
The commercetools Payment Hub offers enterprises increased flexibility in managing payment options. Businesses using the platform can directly integrate with multiple PSPs, ensuring they are not locked into a single provider’s terms.
The platform also supports international expansion by facilitating cross-border transactions in multiple currencies and diverse payment methods. Additionally, it is designed to improve the checkout experience by providing scalable and efficient payment solutions that reduce disruptions and improve conversion rates.
A representative from commercetools stated that the Payment Hub allows enterprises to form partnerships with payment providers on their own terms, without hidden fees or rigid vendor agreements. The representative also highlighted that commercetools does not build its business model around payment fees but instead focuses on optimising commerce software and simplifying payment operations.
Stripe representatives noted that commercetools’ integration will allow businesses to implement advanced payment solutions faster than before, helping companies create robust payment experiences without extensive development time.
To support enterprise adoption, commercetools Payment Hub includes connectors that accelerate integration, ensuring enterprise-level security and a managed runtime environment. Businesses can manage and switch between global PSPs with ease, with further integrations planned for the future.
As more commerce platforms shift towards revenue models that rely heavily on payment fees, commercetools maintains that its approach prioritises transparency and customer control over transactions.
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