What is payment orchestration platform and how does it work?

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Platform tasks

When marketing a product globally, it is important to ensure maximum efficiency and transaction speed. Consumers will move away from problematic and complex payments in favor of faster competitors. The Payment Orchestration Platform (POP) as a payment operator between a customer and a merchant offers the following solutions:

  • Reduced setup costs. POP integrates a payment system with a full suite of payment management and efficiency tools from a single hub. This allows you to significantly save time and financial resources, freeing them up the latter for investment.
  • Convenience of interaction. It is important for partners and clients to make a purchase correctly and pay exactly for what they have purchased. The confusing system of data entry and ordering will not please the buyer. Orchestration allows you to quickly and easily place a purchase from anywhere in the world with a high level of data protection.
  • Speed is the engine of progress, including economic progress. Orchestration provides backup channels for transactions to ensure that no successful transaction is missed.
  • Security. Fighting fraud is an ongoing process that is also important to maintain when processing payments. Orchestration includes proactive operations and interacts with multiple providers to secure payments.
  • Payment Methods. In some areas of activity, payment methods are important. If gamers do not see the preferred option for themselves, they will quickly find a suitable one elsewhere, because the competition is very tight. In this regard, competent orchestration carefully studies the payment methods of the region and expands them in order to successfully pick up the largest percentage of payments.

payment orchestration platform

Security elements in orchestration

A simple option for securing payments is a payment gateway. You can learn more about this system at the link https://corefy.com/payment-gateway. The payment gateway is one of the orchestration elements. But one gateway is not enough when entering the international market. Coordination of various providers from around the globe is needed. The work process is as follows:

  1. The client clicks the order button and enters the data into the payment form.
  2. The gateway encrypts the information and forwards it to the payment systems of the merchant and the client.
  3. The acquiring bank and the issuer confirm the possibility of the transaction.
  4. After receiving the approval, the funds are debited.

With the help of the gateway, this operation performs encryption, security protocols and tokenization of cards, in which fraudsters, even having access to the data, will not be able to use them.

Turning to a unified payment orchestration platform is the best solution to save time and money for a quick start of international sales with a high level of security.

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