Payment Orchestration Platforms offer just a single framework built technically. It directs, validates, and activates all the transactions that are made between customers, buyers, or payment providers and receivers. Every step of payment is covered through the Payment Orchestration Platform (POP).
Why does a Business Enterprise Adopt the Format of Payment Orchestration Payment?
Entrepreneurs all around the world need to manage their payments globally, as they constantly keep entering new global markets, industries, and regions. This global growth needs to be optimized so that the merchants can focus on growing the existing base of customers while also providing a great customer experience through innovative and engaging processes.
Only if the infrastructure of the payment process is right marketers can reach their goals of customer acquisition. However, merchants also need to offer localized payment methods to their customers that comply with the rules and regulations of a secure and efficient payment process so that the settings of payment flow without any hindrance. Hence, International entrepreneurs must merge with payment service providers in different regions. The engagement often requires the ability to handle a range of complex payment gateways, a high level of maintenance, and payment integration. This is exactly where the Payment Orchestration Platform comes in handy.
A Payment Orchestration Platform greatly helps the entrepreneurs to achieve optimized payment flows at the lowest cost. the main benefit is that it provides the ability for smart routing. because a smart routing the transactions are directed towards the best performing provider that is present.
Hence, the merchants can then elevate the conversion rates which is a smart thing to do.
Payment Orchestration Platform is also responsible for providing the merchants with the strength and resilience to adapt to sudden changes in the economic market such as modern payment technology or rapid shift of consumer payment preference methods.
It can also help entrepreneurs to deploy on platforms such as buy now pay later, without having to waste time on excessive technical development or tinkering. Ideally, POPs prevent marketers from being exposed. If they are by any chance relying on a single payment partner who may fail to deliver the transaction.
To this date, a wide range of companies is providing Payment Orchestration Platforms worldwide. Some of them are listed below.
- IXOPAY: This Payment Orchestration Platform is certified by PCI for clients that are white-labeled and Enterprise sized merchants. this platform provides risk management smart routing and centralized settlements and reconciliation to the customers
- ZOOZ: The Payment Orchestration of ZOOZ provides businesses with route payments. payment service providers are tested and then the performance is enhanced through data and analytics
- Spreedly: Spreedly encounters more than 500 customers to orchestrate payment. it handles hundreds of gateways and other services with just a single API connection
- Rebilly: The payment orchestra rate of this company helps the entrepreneurs to plug and play with multiple integrations. that provide them with a local and personalized checkout experience for every market in a different region by detecting the currency, country, and the favored payment option of its target customers