Digital commerce in the US passed the $1 trillion revenue mark in a single year for the first time ever in 2022, as reported by Forbes this year, with the last quarter of the year accounting for over $332 billion. With the e-commerce market in the US projected to grow by another 11.29% and Canada expected to generate around $176 billion in revenue by 2027, there’s no better time for merchants to be investigating how they can capitalize on the growth of e-commerce in the region. So, how can payment orchestration help businesses operating in North America?
Most retailers haven’t touched their payment systems in over two years, making it difficult to keep up with consumer payment preferences and offer enough alternative payment methods (APMs) at the checkout. In order to keep up with consumer payment preferences and optimize the checkout, merchants would historically need to hire a team of payment engineers who would be responsible for deploying and maintaining multiple payment methods and processors, in addition to other services needed within the payments ecosystem – a costly strategy.
Alternatively, merchants can consider payment orchestration. Whether built in-house, or outsourced to a payment orchestration platform, payment orchestration empowers merchants to grow their business, and implement and manage multiple payment providers and solutions with no additional cost, resources, or development time.
Join Gr4vy’s CEO and Founder John Lunn and our North American payments expert, Keith Leone, as they discuss:
To access the full webinar with more information and insights, view the library of on-demand ‘Behind the Checkout’ content here.
If you’d like to learn more about payment orchestration and why it’s not a single point of failure for merchants, check out our Q&A breaking it down here. If you’re interested in learning more about Gr4vy, and how its payment orchestration platform helps you reduce fraud and chargebacks, optimize processing fees, reduce transaction costs, restrict the sale of prohibited goods, and more, check out the platform, and get in touch with a member of the team.
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