Major software firm Adobe has announced partnerships with Mastercard and digital payment processor Bolt. Both team-ups are anticipated to vastly increase the speed and convenience of payments made with Adobe products and services.
By all accounts, Adobe’s new strategic partnerships are a canny maneuver. Integration with Mastercard is expected to boost Adobe’s cumbersome B2C transactions, a traditionally neglected segment of the payments world—health insurance payouts, for instance, generally take over a month to receive, a timeline that can be greatly improved with the use of Adobe’s digital signature and other tools. This alliance is expected to build credibility among the credit giant’s millions of customers worldwide thanks to its association with a trustworthy name like Mastercard.
Meanwhile, partnering with one-click checkout standout Bolt gives Adobe users the opportunity to make retail purchases quickly and conveniently without having to reenter their payment information. This frictionless payment experience is hoped to help Adobe compete with online retailers such as Amazon.
Taken as a whole, this new duo of partnerships represents an effort by the software giant to court young, digital-native consumers as well as more established identity-verification and major-purchase facilitators. With retail digital sales expected to be near $1 trillion this year, Adobe has set itself up for continued success in the rest of the decade and beyond.