Adobe jumps into e-commerce payments business in challenge to Shopify

FILE PHOTO: Adobe company logos are seen in this picture illustration taken in Vienna July 9, 2013. REUTERS/Leonhard Foeger/File Photo

(Reuters) - Adobe Inc on Wednesday said it will add payment services to its e-commerce platform this year to help merchants accept credit cards and other ways of paying, deepening a rivalry with e-commerce firm Shopify Inc. 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 United States and is tapping PayPal Holdings to process a variety of payment types, including credit and debit cards as well as PayPal's own payment and pay-later offerings.