An effective payments strategy is built on working with the right payment partners. That might be a fraud detection vendor that specializes in your industry. Or may be with a partner merchant or platform that you want to transact with.
This video series takes a deep dive into how the world’s most successful organizations solve their business pains with Payments Orchestration.
Hosted by Watrice Woodridge with Spreedly, this segment provides us with an overview of how Payments Orchestration helps every payment participant — from merchants and platforms, to payment gateways and related services — to securely connect and transact.
Rough Transcript (edited for readability):
Hi, I'm Watrice Woodridge with Spreedly, and I want to talk to you about payments orchestration.
Did you know that successful digital businesses harness the power of payments flexibility? They're more successful because they leverage the right mix of payment gateways and services to support their business strategy. Payments orchestration gives you the power to connect to virtually any payment service, all through a single API connection. That lets you deliver a better customer experience, return higher payment success rates, and lower your business risks.
Here are a few examples. Let's say you want to expand to new markets, but your current payment service provider doesn't support those markets. Payments orchestration allows you the flexibility to connect to any additional provider in the world through a single API connection. So you're no longer limited to where you can expand. How about your success rates? Could those be better if you were connected to the right payment services at the right time? Outages, latencies during peak periods, and even business continuity problems can cause significant risk to your revenue.
So it's vital that your payments infrastructure is ready to transact when your customers are. Imagine being able to shift transactions as needed. Bringing on a new client that you've been dreaming of servicing, but they want to use their own payment services that you don't already support.
A successful business should always be ready to offer their services to customers regardless of their preferred gateway. Payments orchestration is the way to deliver a great customer experience while increasing your revenue, whether that's with multiple gateways, payment service providers, or even third party providers like fraud tools or loyalty programs. Transact more and worry less with payments orchestration.