How Payment Orchestration Platforms Can Drive Business Growth
In today’s fast-paced, digitally driven world, payment processing has transformed from a simple exchange of funds into a complex ecosystem requiring agility, scalability, and security. Regional banks and Payment Service Providers (PSPs) in e-commerce face increasing pressure to provide seamless and flexible payment solutions. They need to optimise processes while managing multiple payment methods, currencies, and regulatory frameworks. In this context, payment orchestration platforms (POPs) have emerged as game-changers, enabling businesses to streamline their payment operations and, more importantly, drive business growth.
At Aevi , we’ve witnessed first-hand how our flexible, innovative payment solutions have transformed regional banks’ in-person payment acceptance models, allowing them to bring solutions to market faster while increasing revenue streams. In this article, we’ll explore how payment orchestration platforms can help banks and #PSPs overcome key challenges in today’s e-commerce environment. We'll dive into their role in simplifying complexities, optimising payments, and why having the right payment orchestration strategy in place is crucial for future success.
What is Payment Orchestration?
Payment orchestration refers to the process of managing the entire payment flow from end to end. This includes routing transactions, handling payment failures, integrating fraud prevention mechanisms, and ensuring compliance with local regulations. Think of it as the conductor of an orchestra, ensuring that all the individual instruments (or payment systems, in this case) work together seamlessly to create a beautiful performance.
In the context of e-commerce and in-person payment acceptance, regional banks and PSPs need a solution that can manage all these moving parts efficiently. Payment orchestration platforms are designed to help businesses integrate with multiple payment gateways, acquirers, and processors through a single interface. They optimise routing, reduce transaction fees, and improve conversion rates. But most importantly, they offer flexibility—something that’s especially crucial in today’s rapidly evolving payment landscape.
Addressing Key Pain Points: Increasing Revenue and Simplifying Complexity
Accelerating Time to Market
In today’s hyper-competitive environment, speed is critical. Building a payment solution from scratch can take years of development, not to mention the ongoing resources required to maintain and update it. Many regional banks find themselves stuck in a long development cycle, losing out on the opportunity to capitalise on new market trends.
This is where payment orchestration platforms shine. By leveraging pre-built integrations with a wide array of payment providers, banks can roll out new payment methods and features much faster. At AEVI, we’ve been able to accelerate time to market for our clients by providing them with the tools they need to launch fully functional in-person payment solutions within a matter of months, not years.
For example, one of our clients—a regional bank operating in the EMEA region—needed to build an in-person acceptance solution to complement their existing online payment offerings. Instead of spending years in development, they partnered with AEVI and were able to bring their solution to market in record time, boosting their overall market share and revenue.
Enhancing Flexibility and Customer Experience
Consumers today expect frictionless payment experiences across all channels, whether they’re shopping online, in-store, or on a mobile device. Offering a limited set of payment options or dealing with frequent transaction failures can frustrate customers and lead to lost sales.
Payment orchestration platforms solve this by offering businesses the flexibility to accept a wide variety of payment methods, including credit and debit cards, mobile wallets, and even alternative payment methods like Buy Now, Pay Later (BNPL). This flexibility not only improves customer experience but also opens up new revenue streams for businesses.
At Aevi , we’ve helped regional banks enhance their payment acceptance capabilities by offering their customers more choice at checkout. By integrating seamlessly with various payment providers and ensuring transactions are routed through the best available gateway, we’ve enabled our clients to improve their customer experience, reduce transaction failure rates, and increase overall sales.
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Staying Ahead of Regulatory Changes
The regulatory landscape for payments is constantly evolving, especially in regions like the EU, where PSD2 and GDPR have added new layers of complexity. Staying compliant while still delivering a seamless payment experience can be a significant challenge for banks and PSPs.
Payment orchestration platforms simplify this by automatically updating compliance features as regulations change. This means regional banks and PSPs can focus on growing their business rather than constantly worrying about meeting new legal requirements.
AEVI’s solutions are designed with compliance in mind. We ensure that our clients are always up to date with the latest regulations, whether they’re operating in a single country or across multiple regions. This not only reduces the risk of fines but also builds trust with customers who expect their financial information to be handled securely.
Real-World Success: AEVI in Action
One of our most successful case studies involves a regional bank in the EMEA region that was struggling to build its own in-person payment acceptance solution. They faced several challenges, including high development costs, long implementation timelines, and difficulty integrating with multiple payment providers.
By partnering with AEVI, the bank was able to leverage our payment orchestration platform to create a flexible, scalable payment solution that could handle both online and in-person payments. Within months, they had a fully operational system in place, complete with multi-currency support, fraud prevention tools, and dynamic routing capabilities.
The result? The bank was able to bring its solution to market faster than any of its competitors, giving it a competitive edge in the region.
The Future of Payments: Flexibility, Agility, and Growth
As the payment industry continues to evolve, flexibility and agility will become even more critical for banks and PSPs looking to stay ahead. Payment orchestration platforms provide the tools needed to navigate this complex landscape, offering businesses the ability to adapt quickly to changing consumer demands, new payment methods, and evolving regulatory requirements.
At AEVI, we’re committed to helping regional banks and PSPs unlock new growth opportunities by simplifying their payment processes and providing them with the flexibility they need to succeed. Whether it’s accelerating time to market, optimising payment routing, or enhancing customer experience, our solutions are designed to meet the unique needs of today’s fast-paced payment environment.
Conclusion
In the ever-evolving world of payments, the ability to orchestrate multiple systems and providers into a cohesive strategy is no longer a luxury—it’s a necessity. Regional banks and PSPs operating in e-commerce must embrace payment orchestration platforms if they want to stay competitive, reduce operational complexities, and unlock new revenue streams.
At AEVI, we’ve seen first-hand how our solutions have helped businesses accelerate time to market, increase transaction approval rates, and improve overall customer satisfaction. By partnering with a trusted payment orchestration provider like AEVI, businesses can focus on what they do best while leaving the complexities of payment management to the experts.
If you're ready to take your payment strategy to the next level, contact us today to learn more about how AEVI can help you achieve your goals.