What is payment orchestration: optimal payment management in 2023

PayXpert

PayXpert
Published 13/03/2023 · 2 min read

Stronger and more consistent payment coverage to increase conversion

At a time when digitalisation is bringing the diversification not only of payment channels but also of payment methods (and the consequent emergence of alternative payment methods), the need to manage all of these on a single platform has arisen. Learn about payment orchestration, and how to implement it in your business to increase conversion.

At PayXpert we work not only to develop specific payment solutions, but also a unique and easy-to-implement system that allows you to offer the best to your customers, in an optimal way for your team. Discover, step by step, the different elements that make up a payment orchestration system, and how to make it part of your business.

Payment orchestration, step by step

Omnichannel payments: digital payments, MOTO, IVR (Interactive Voice Response) payments, or even the enhanced version of the familiar POS. All this, under one unified payment platform, so you can offer your customers a holistic and exceptional shopping experience. Offer your customers a wide variety of complementary payment methods through which they can complete the purchase process easily and conveniently.

Alternative payment methods: PayXpert's payment solution offers more than 25 international alternative payment methods, including key ones such as RuPay, WeChat Pay, AliPay and many others. In addition, by supporting over 100 different currencies, it allows our customers to trade with consumers from all over the world. It is this solution that has attracted more than 650 customers in the UK, France and Spain, who already benefit from one of PayXpert's most powerful tools.

Business Intelligence: all these solutions generate financial data that, thanks to our business intelligence engine, are collected, analysed and processed with a clear final objective: to offer you a simple and valuable vision of the progress of your business. How? Through a Dashboard where you can track your main KPIs in real time. Intelligent progress, in an integrated way.

Payment orchestration and unified commerce. What are they? How do they work?

On the other hand, payment orchestration is the complementary solution to unified commerce, a payment information management model in which all channels include the financial information of your business in a single system. What is unified commerce? 

The importance of managing payment channels and methods is key in today's scenario. This orchestration becomes essential when making the leap to unified commerce, the next level of a company's financial synchronisation. Unified commerce, the linking of all sales channels, allows you to offer not only a better payment experience but also a seamless and painless shopping experience for the customer. Shopping models such as Click and Collect, in which the online shop is combined with the physical shop, are examples of the many practical applications of this business model. All of this is managed under a single platform, not only for payments but also for stock management and general data management. Its most immediate benefits: a much faster and more efficient management of your business, a greater flow of customers and, ultimately, a higher final conversion.

Payment orchestration: one of many added values

Payment orchestration is the perfect example of how to add value to traditional (and not-so-traditional) financial payment solutions. Payment orchestration has emerged in response to an increasingly demanding and diversified market and a customer who is becoming accustomed to making purchases in more ways.

As experts in financial innovation, we specialise in constantly working on our solutions to improve our customers' results, whether they need an omnichannel payment option, alternative payment methods or a business intelligence solution. The beauty of technology is the adaptability it gives us, allowing us always to go one step further, and always be ready to respond on time. This is our principal added value: offering technology designed and applied with the advice of an expert team.
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