At Spreedly, we believe the world is better with a diversified, inclusive payments ecosystem. Orchestration is an important part of the payments stack, helping to maximize strategic flexibility and adding value by providing access to an open, secure, and flexible payment platform that welcomes all payment participants.
Payments Orchestration is also a powerful tool to help improve the bottom line.
Our solutions enable and optimize over $45 billion in annual transaction volume which is an incredible amount of data. Our teams continuously measure and monitor transaction data to grow and optimize our solutions. This enables us to observe trends and uncover insights for our customers and partners across the payments networks.
In 2022, we saw total processing volume increase by $12 billion YoY. (Which is nearly identical to all the volume we saw in 2019.)
- Digital media sales is helping fuel that growth, with 103% growth between 2021 and 2022 (More from HBO about launching payments in new markets for a subscription-based business)
- Customers in the travel/events and ticketing industries volumes grew by 160% year-over-year which wasn’t a surprise (More from Caravelo, about how payments are being used to create predictable revenue through airline subscriptions)
- Some industries grew much more slowly in 2022. This included customers in the home delivery and home fitness industries, which had experienced significant growth in 2021. This segment grew by about 12% (14 West on how orchestration can help drive strategy)
The Spreedly orchestration platform continued its growth as well including:
- Fraud management and prevention transactions increased by over 44% year-over-year: In 2020, we saw one fraud transaction for every 4.5 transactions. In 2022, that figure was one fraud transaction for every 3.3 transactions
- In Europe and LATAM, we saw an increase of over 120% year-over-year in payment transaction volume via internal reporting
- Across North America, payment volume increased by over 140% year-over-year
Spreedly in 2022
Our teams continued to listen to and meet the unique needs of our customers in 2022. This included a new full product suite addressing the unique payments needs of merchant aggregators.
We announced our new partnership with PPRO to expand diverse local and alternative payment offerings via the Spreedly platform; as well as further optimizing our alternative and local payment methods.
We were also fortunate to have many customers share their payments journeys with us this year:
- Volusion: Making Payments Pay Off for Merchant Aggregators
- Ribbon: Bringing New Products to Market
- Supreme Golf: Payments Orchestration Stops Payment Declines
- Bink: Improving Customer Loyalty Using Payments
- HealPay: How Digital Innovation Makes Bill Collections Kinder (& More Effective)
Payments Orchestration continues to gain momentum in the marketplace. With our agnostic position, transaction volume, and ability to partner, we continue to grow as the industry’s clear leader. We do not take this position lightly, and because of this we expanded our support offerings for customers to 24x7x365 global support.
We also expanded upon our Spreedly Payment Service Provider Program in 2022. Wordline, the European leader in the payments and transactional services industry, joined our PSP Program. And, Cybersource, a Visa solution, joined our PSP Program as a preferred partner. Our partnership with payments organizations like these helps us all deliver on the mission and vision of a diversified, inclusive payments ecosystem.
We continue to drive innovation in the market and for our customers worldwide. That’s why we revealed our new, updated branding in 2022. Our new brand is another step forward in our long-standing commitment to our vision for payments orchestration.
We hit the road to San Francisco and New York City with the return of PAYMENTSfn! These events featured insights from payments professionals across several different organizations – all with real world insights to share about their payments journeys. Our 2022 speaker lineup included:
- Walmart: Anusha Swamynathan, Senior Product Manager
- Netflix: Nick Ryabov, Senior Software Engineer
- PayPal: David Bruce, VP, Global Head, Channel Partnerships
- SeatGeek: Shawn Kelley, Director of Payment & Risk Operations
- The New York Times: Patrick Presto, Product Lead
- Cybersource: Soniya Ozarka, Director of Strategic Alliance
Moving into 2023
Our customers want to grow their revenue. But to drive ever faster growth requires constant business and technical innovation. Innovative companies constantly push the boundaries of their infrastructure to expand into new geographies, markets, and business lines.
Our teams continue to focus on product innovation and meeting the complex needs of our customers and their business. Revenue Optimization, Smart Routing, Network Tokenization, Data Insights and Dashboards, and building on our strong PSP partnerships – all have a part to play in our success as we move into 2023.
We know that a payments platform that is open and flexible that allows organizations to optimize and accelerate commerce is no longer an option -- it is the core of what drives business. We also know that Payments Orchestration offers the much-needed solution to turn possibilities into payments.
Thank you to everyone who contributed to Spreedly’s success in 2022 and here’s to 2023!
Get in touch with our sales team today to find out more about how Spreedly can help you reach your goals in 2023 and beyond.