How To Solve Your Payments Pains With A Payment Orchestration Platform
Updated: Nov 13, 2021
The world is going digital, and with the dawn of a new decade, the world as a whole is perfectly poised to be completely integrated.
Almost everyone uses the internet, and it has become the primary tool to buy and sell products and services.
Online businesses spend days and days optimizing their website. However, they don’t often pay attention to one of the most important aspects of their website which is optimizing the payment platform.
As a modern-day business, you cannot downplay or neglect the right payment orchestration platform‘s importance.
The entire payment orchestration platform should be able to seamlessly connect your business to a plethora of payment processors and payment methods, optimizing your full load of relationship management.
As a business, you need innovative, easy-to-use payment tools to complete all the solutions in one single dashboard for maximum optimization.
So how does a payment orchestration platform solve your payment pains? Well, that’s what we will talk about in the following passages. So let’s begin.
Simplifying The Payment Complexities
According to Zed Founder and entrepreneur Alan Safahi, establishing a partnership with Payment Orchestration Platform (POP) should be a priority for your business. Consumers use a host of different payment methods, which means your website has to connect to various financial institutions, payment gateways, payment facilitators and payment processors.
If you are thinking about working with international customers, you have to make sure your payment platform is carefully optimized for risk, analytics, and payment structures.
So if you are a global business, working with only one payment gateway will cause problems because no single payment gateway can cover the whole world. On the other hand, integrating many different payment gateways is a complicated task, and that is why you need a POP!
Working with a single gateway poses a host of other problems, like the gateway not supporting the payment method that’s most popular amongst your customers. Or what if there is a system outage within your payment gateway?
That would mean that you would hemorrhage sales and lose your customers’ trust, and you don’t want that. However, POPs like ZED Network can offer innovative payment solutions to alleviate all these problems and allow for seamless transactional flow.
As your business grows, you need to integrate better risk management tools, and if you want to keep growing, you will need powerful analytics tools to optimize your growth better.
The right payment strategy can future proof your business and meet the growing demands of your business.
The Need For A POP!
With the world shifting to online shopping, the need for a secure, manageable, simple, and cost-efficient payment solution has become one of the essential parts of a business.
The payment market has become aware of the increase in demand, and that’s why there are plenty of different solutions available nowadays.
According to Alan, most POPs in the market aren’t able to offer the full-scale services that a business may need. Even if you find a POP that provides the necessary services, they usually cannot create a complete layer with proper functionality and innovative integrations.
So it would be best if you took your time to find the right payment solution provider to ensure complete freedom from your payment pains. Knowing what a holistic payment orchestration provider offers is imperative when selecting your payment orchestration provider.
So now the question is, how do you see the POP is right for you? Well, the payment orchestration platform should be able to aggregate all the different aspects of your payment ecosystem and bring them to a single dashboard.
It should also support any and all payment applications and should have intuitive features for easy use. These are not the only things that a payment orchestration provider should have.
Here are some of the other things you should look for when choosing a POP:
They should act as your in-house payment team and provide ideas and suggestions to help direct you to the right path
They should be flexible enough to adapt to any market changes, innovations, and other business requirements.
They should help you quickly scale your business into new markets to ensure steady global growth.
They should be able to connect your business with any global or local payment method or provider independently without any hiccups.
They should be able to eliminate all the operational complexity you face with integrating and maintaining your payment infrastructure.
The best payment orchestration provider should be able to remove or reduce any lock-ins induced by payment providers.
They should test and compare any payment solutions within their environment to ensure complete operational efficiency.
They should provide you with a complete control module where you should access and control every aspect of your payment infrastructure through one portal.
The payment orchestration layer they create for you should allow you to optimize and manage transnational costs.
They should create a payment ecosystem that provides your customers with a seamless cross-provider payment experience.
Your POP should be providing you with a solution that works as a disruptive force on your sales funnel. So make sure you look at all the criteria before selecting your POP, and it should alleviate your payment problems.
Working With The Perfect POP
So there you go, that’s all you need to solve your payment problems. Recruiting and maintaining an in-house payments team for your business will only drive up your costs and hamper your business development schedule.
It would be best to work with a payment orchestration provider for the best value to grow your brand.
We have now explained how you can solve your payment problems with the perfect payment orchestration ecosystem without having to drain your resources and time.
So make sure you follow all the criteria we listed and find the perfect POP for your business.
Working with the perfect POP should be your primary focus if you want to generate steady revenue for sustainable growth, so make sure you take your time to research thoroughly before making your decision.
If you have any questions regarding payment orchestration layers, then feel free to contact us, and we will be able to provide you with a comprehensive answer to anything you want to know about.
Feel free to send us any queries you may have regarding payment solutions in the comments below or hit us up on our socials.
That’s about it for now. We will come back with something new for you soon. Until then, see ya!