Monthly ecommerce. October
Adobe Commerce challenges Shopify in the payments business, Mastercard is to join the BNPL market, TikTok expands partnership, Amazon introduced its first robot Astro (looks weird, video is attached). This is a small but worth part of the ecommerce news that happened last month. Let's see.
1. Adobe jumps into the ecommerce payments business
The new payment system for Adobe Commerce (Magento) will be powered by the PayPal Commerce Platform and available to Adobe merchants by the end of the year.
With Adobe Pay (or how it'll be called), merchants would be able to accept and process popular payment methods, offer buy now, pay later (BNPL) services to their clients, get a clear view of their store's financial reporting, and benefit from the more competitive pricing for transactions.
2. Mastercard is to join the BNPL market
Talking about BNPL services. You thought this market is getting oversaturated? Mastercard doesn't think so. A credit card giant announced it's launching a new one that will let consumers make shopping payments in four installments without any interest rate fees.
The service will be available for the U.S., Australia, and the UK in Q1 2022. A Juniper Research study published this year estimated the new payment method could account for $995 billion in sales by 2026.
3. TikTok partners with Square, Ecwid, Prestashop
While some people still guessing what evil did bring TikTok, it's becoming a really powerful platform for digital shopping. Recently it's announced the list of new brand partners including Square, Ecwid, Prestashop, and Wix, SHOPLINE, OpenCart, Base coming soon.
According to the Material survey, TikTok users are 1.7 times more likely to make a purchase through the app compared with its competitors.
4. Amazon introduced its first robot
The AI-powered robot Astro is able to help its owners with a wide range of household goods: from home monitoring to bringing a beer. The model will cost $999. As they say, it's better to see once.