What is Payment Orchestration?
A unified system that brings together multiple payment methods, gateways, banks, and processors under one platform. By coordinating these disparate components, payment orchestration ensures transactions flow smoothly, minimizes failures, and boosts approval rates.
How It Works
The customer selects items, proceeds to checkout, and picks a payment option.
The gateway encrypts payment details and forwards them to the acquiring bank.
The acquiring bank contacts the issuing bank to verify funds.
The orchestration layer evaluates gateways and routes the transaction to the optimal provider based on cost, speed, location, and uptime.
If the primary gateway is unavailable or a payment fails, the platform automatically retries through an alternate route until the transaction succeeds.
Benefits
Higher Conversion Rates: Fewer declined transactions mean fewer abandoned carts.
Global Reach: Supports cross-border payments, local currencies, and regulatory requirements.
Better Customer Experience: A seamless, reliable checkout builds trust and loyalty.
Cost Savings: Route payments through the lowest-fee providers without sacrificing success rates.
Data-Driven Decisions: Detailed reports on success rates, refunds, and settlement times guide optimisation.
