Adobe expands in payments

Article Excerpt

ADOBE INC., $632.37, is a Power Buy. The company (Nasdaq symbol ADBE; TSINetwork Rating: Average) (www.adobe.com; Shares o/s: 475.8 million; Market cap: $302.6 billion; No dividends paid) now plans to add payment services to its e-commerce platform this year. This is aimed at letting merchants accept credit cards and other ways of paying. 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 U.S., and will use PayPal to process a variety of payment types, including credit and debit cards as well as PayPal’s own payment and pay-later offerings. Until now, Adobe’s e-commerce customers have had to build their own payment systems. That works for larger businesses that can negotiate with payment processors, but Adobe wanted a simpler service for smaller merchants. Payments are a big part of e-commerce. For Adobe, its move into payments follows…