Payment orchestration platforms are designed to address the complexity of payments for merchants. Pre-built infrastructure brings together the diverse payment methods, services, and transactions and enables merchants to manage, optimize, and evolve the payment stack in a holistic fashion, regardless of the components and connectors involved.
From checkout to reconciliation, payment orchestrators give merchants visibility, flexibility, and control at every stage of the payment process. With the ability to seamlessly test and add new payment methods, orchestrators help merchants nimbly adapt to a continually evolving payment landscape.
In summary, it addresses a number of merchant priorities:
Future-proofed simplicity and agility
With simple API integration, orchestrators significantly reduce the complexity of the payments stack and incorporate new payment methods as they become available with little to no coding for the merchant.
Tokenization and data portability
In addition to payment optionality, a payment orchestration platform allows for tokenization and data portability, offering merchants the freedom to own their data in a provider-agnostic PCI DSS Level 1-certified Vault
Time and cost efficiency
Adding new payment methods can be an expensive and time-consuming process for a merchant. Payment orchestration platforms can be quickly deployed and adjusted with just a few clicks.
Centralized visibility and control
Managing multiple payment providers makes it harder for merchants to identify trends, fraud, and possibilities for optimization. With a holistic view of the payments stack and real-time analytics, orchestrators give you the ability to dynamically fine-tune transaction routing, conditions, and workflows across all payment methods through one platform.
Financial insight and reporting
Finance teams often struggle with the diversity and complexity of reporting systems, which can impede their ability to reconcile and close their books effectively. In addition to aligning financial data and automating routine reports, POPs provide actionable insights about which payment methods perform best and how to optimize your mix of payment services for performance.
Improved checkout experience and conversion rates
The backend integration, operational efficiency, and business agility provided by POPs are all focused on a universal merchant priority: improving sales conversions. With embedded functionality, payment flexibility, and a seamless checkout process, POPs deliver a frictionless buying experience that reduces cart abandonment rates.
Ready to explore how Gr4vy can support your payment strategy and future-proof your checkout? Get in touch with our team.
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