Interview

The rise of Payment Orchestration and its multiple case uses

Thursday 29 June 2023 09:00 CET | Editor: Irina Ionescu | Interview

What is Payment Orchestration and why should businesses be taking note? CellPoint Digital’s co-founder and CEO, Kristian Gjerding, talks about the business impacts of having a unified payments platform.


How does Payment Orchestration simplify and optimise payment systems to ensure efficient and secure transactions, even in the face of changing customer demands and numerous payment options?

Payment Orchestration Platform (POP) revolutionises and optimises payment systems, ensuring seamless and secure transactions while adapting to evolving customer preferences and a multitude of payment options. Payment Orchestration transforms costs into profits by empowering merchants with control over the entire financial supply chain. It enhances conversion rates, reduces expenses, improves the customer experience, and automates complex back-office functions. 

With its cutting-edge technology, Payment Orchestration streamlines intricate processes, freeing merchants from the burden of managing multiple payment, fraud, and financial services providers. By connecting seamlessly with banks, payment service providers, acquirers, and revenue management systems, Payment Orchestration enables businesses to accept global payments effortlessly. 

By centralising integrations, it eliminates the need for separate connections and dynamically routes transactions through the most suitable payment methods, ensuring agility in response to changing traveller demands and emerging payment methods.

In addition, Payment Orchestration Platforms (POPs) encompass robust risk management and fraud prevention tools that analyse real-time transaction data, enabling the prompt detection of fraudulent activities. Leveraging these advanced analytics capabilities, businesses gain valuable insights into customer behaviour, facilitating the development of effective payment strategies. 

By harnessing a deeper understanding of customer insights, merchants can optimise their financial supply chain, enhance security measures, and tailor payment processes to meet customer demands. With the ability to proactively identify and mitigate risks, POPs provide businesses with peace of mind and enable them to maintain secure and efficient transactions.

How is Payment Orchestration helping to address market challenges in the payment industry?

The rise of the ‘borderless consumer’ who now expects to purchase anywhere, through any channel, at any time, with any payment method of their choice, adds a deep need for merchants to provide a customer-centric payment experience. These consumers will not tolerate slow online checkouts or ones that don’t offer their preferred payment methods. So, what we’re now seeing is those businesses which have not innovated fast enough are left with lost revenue and escalating costs due to failed payments, abandoned baskets, and dwindling consumer trust.   

Payment Orchestration helps separate the winners from the losers in business by helping future proof businesses to meet shifting consumer habits and evolving payment options. These technology platforms have been designed to recognise the need for merchants to revolutionise their payment systems to meet the rapid globalisation and digitisation of the retail experience. Payment Orchestration addresses market challenges by simplifying complexity, adapting to changing customer demands, optimising conversion rates, enhancing security, streamlining operations, and providing valuable analytics for merchants.

Access to valuable insights on transaction success rates, payment costs, and other key metrics, via a unified platform, empowers merchants to now understand trends and make informed decisions on how to optimise strategies and identify the areas for improvement.

In what ways does Payment Orchestration help businesses respond to customer demands and improve the customer journey?

Payment Orchestration empowers businesses to respond to customer demands and, in turn, improve the customer journey by offering a wide range of payment options and streamlining the checkout process. Not only does CellPoint Digital’s technology route transactions to the most suitable payment method, personalisation and localisation capabilities allows it to ensure customers preferred payment journey happens and is in line with local requirements. 

The technology is also built for the bespoke needs of each customer business to ensure it is delivering to the exact needs of each business and market. The analytics from the platform also provides valuable insights for merchants to continuously improve the customer experience, in real-time.

Can you provide examples or case studies that demonstrate the benefits and impact of CellPoint Digital's Payment Orchestration solutions on businesses?

In the past 12 months we have successfully onboarded some of the world's largest companies, including Southwest Airlines, Virgin Atlantic, Radisson, and more. Through integration, we have given retailers access to a world of over 410 payment types, with 28 card schemes, 168 APMs, and 221 acquirers, PSPs, and aggregators, providing our clients with a competitive advantage to accept payments from customers anywhere in the world. 

We have consistently delivered an 11% increase in transaction approvals. This translates to an average of 25,000 transactions per minute helping our clients increase their revenue by reducing the number of failed payments. An established payment infrastructure is so much more than just ‘payments’ – it has a significant impact on the bottom line of a business and should be a top consideration for all merchants, whether they’re looking to enter new markets or just keep current customers happy. 

 

 

About Kristian Gjerding

Kristian is a visionary entrepreneur and esteemed leader at the forefront of digital transformation and payment solutions. With an extensive background in enterprise business, including notable positions at Amdahl, Network Appliance, and Sun Microsystems, he co-founded CellPoint Digital in 2007. As CEO, Kristian's strategic acumen and operational expertise drive the company's innovation and unwavering commitment to supporting customers in the travel sector. His profound understanding of the payments landscape and ability to navigate complex challenges have positioned CellPoint Digital as a differentiator in the industry. 



About CellPoint Digital

CellPoint Digital, the inventor and leader of Payment Orchestration, is a pioneer in shaping the future of payments, with a focus on the airline and travel industry, using it’s cutting-edge Payment Orchestration Platform to enable customers to cut costs and grow revenues by streamlining payments between borders and using different payment methods – making payments work for them across all channels and markets.


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Keywords: payments orchestration, online payments, payments , payment processing, payments infrastructure, PSP, merchant, customer experience, payment methods, digital payments, checkout optimisation , supply chain finance
Categories: Payments & Commerce
Companies: Cellpoint Digital
Countries: World
This article is part of category

Payments & Commerce

Cellpoint Digital

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