Payment orchestration promises to help support frictionless online payments, reduce transaction costs and provide a smoother customer experience. Encoded’s latest Ultimate Guide to Payment Orchestration explains how it works and why it’s good for business…
Providing customers more choice with payment methods when buying online means using an increasing amount of differing third-party technology and services, all of which must be managed by the merchant for consistent transaction success.
It can be difficult to navigate these different systems and payment methods, to deliver optimum conversion rates, manage costs and provide a smooth customer experience. Connecting to disparate payment service providers (PSPs), acquirers and banks also increases the risks to data and fraud, both for the customer and the business.
A better way to conduct business
A payment orchestration platform helps to achieve consistent, frictionless online payments for a smoother customer experience. It simplifies the payment process, increasing successful transaction rates and helping organisations to boost online sales and increase revenue. It manages the entire payment process from payer to payee securely, including payment authorisation, transaction routing and settlement.
Working independently of system providers and acquirers, payment orchestration manages multiple gateways, acquirers and payment methods, interchanging them dynamically, in real-time to enable optimum transaction flows at least cost.
Encoded’s Ultimate Guide to Payment Orchestration has the answers
Our latest guide explains in detail everything a merchant needs to know about payment orchestration and the benefits to business:
- What is payment orchestration?
- Why you should consider payment orchestration.
- Features and benefits.
- Questions to ask about payment orchestration.
- Choosing the right technology partner.
- Payment orchestration in action.
Reaping the benefits today
Payment orchestration can provide the flexibility to future-proof a business as customer preferences change, enabling faster growth with the ability to serve customers worldwide. Businesses can reduce costs with increased conversion rates, protect payments against fraud and provide a smoother customer journey.