Payment orchestration: how to stay relevant in today’s reality…

• How are e-commerce payment strategies evolving?
• How can companies offer a closed-loop, single-supplier approach and an open-loop, multi-acquisition strategy simultaneously?
• What are the benefits of organizing payments?
• Beyond increasing conversion rates, reducing costs, and optimizing payments, what more should companies be looking for?
• Why is it so important to focus on the appropriate level of institution when experimenting with new payment models?

The e-commerce boom and the acceleration of online transactions have led customers to expect omni-channel convenience and an efficient user experience. Acquirers, issuers and merchants alike are now being forced to digitize their processes or risk disintermediation.

What’s more, businesses continue to struggle to accept a variety of payment methods, from debit cards to credit cards to all types of electronic payments, so transactions aren’t as smooth as they could be. The global expansion of payment processing services shouldn’t be as difficult as it is.

Closed payment methods – used by a single company – and open payment methods – traditional personal banking and credit cards – are being accepted by organizations and providing a more convenient experience for customers, but more is needed.

In addition to meeting customer needs, digitalization can help organizations keep up with the growth of online activity, increasing the need for payment orchestration. Payment orchestration can be viewed as a sophisticated solution for achieving incremental profits in complex multi-market environments.

In addition, payment orchestration, in which payment authorization, processing and optimization are automated and linked to enterprise visibility into business operations, is an important model today because it can lead to faster introduction of new services to the market and, therefore, faster revenue generation . This model can also allow merchants to process payments in both open and closed loop in a similar way, authenticating and verifying simultaneously.

Sign up for this Finextra webinar, hosted in partnership with ACI Worldwide, to join our panel of industry experts as they discuss the evolution of e-commerce payment strategies.

Speakers:

Gary Wright – Research Manager, Finextra (Moderator)