The world of payments is becoming increasingly complex to navigate for merchants, marketplaces and companies in general. Payment orchestration can help navigate this.
Payments are a key part of the consumer experience, with particular attention to a coherent omnichannel experience and low friction of conversion.
However, with wider and better consumer choice of payments comes higher complexity. Expanding to new geographies is particularly difficult since it requires: understanding the most relevant payment methods for the region, finding the right payment processors, integrating with them, managing the reconciliation of payments, fraud detection, compliance and so on.
Here comes the Payment Orchestration model. Payment Orchestration focuses on abstracting the complexity of managing and integrating with multiple PSPs and VAS. This is done by focusing on smart routing to improve transaction success and sales conversion, instead of focusing on processing or collecting.
Discover more: https://dealroom.co/blog/the-next-frontier-in-payment-innovation-orchestration