Voice of the Industry

Over 50% of organisations manage five or more payment integrations – results from the Payments Landscape 2023 Survey

Wednesday 28 June 2023 12:32 CET | Editor: Raluca Ochiana | Voice of the industry

The Paypers, in partnership with payments orchestration platform Spreedly, set up a survey aimed at shedding light on the prevailing trends among companies looking to leverage multiple payment integrations as part of their orchestration approach.


In today's rapidly evolving fintech landscape, payment orchestration has emerged as a pivotal strategy for organisations seeking to optimise their payment processes. This idea was among the first that emerged when The Paypers and Spreedly scanned the payments and fintech ecosystem in order to better understand what the key drivers for companies are, when seeking to keep themselves competitive and diversify their payments stack. The analysis debuted by defining the profile of their respondents. 


When it comes to the general profile of the respondents, the overwhelming majority were fintechs (53%), followed by merchants (19%), and marketplaces (11%). More than 68% of respondents were based in Europe – nevertheless, the Americas are also demographically relevant to the survey with almost 40% of respondents, Africa and APAC varying in presence from 16 to almost 30%, respectively.

When disseminating the results, several important insights emerged, which we will contextualise in this article, as follows:

  • The increasing use of multiple payment integrations highlights the growing popularity of payment orchestration among businesses – and companies are, more than ever, recognising the advantages of leveraging multiple integrations.     

  • The need for more time and resources to deliver required functionality is a quintessential aspect of enhancing development teams' support for payments.  

  • Businesses are focused on optimising payments, embracing Open Banking, and implementing payment orchestration strategies to adapt to the changing fintech landscape, while regional expansion and addressing fraud are also key priorities for organisations as they strive for global reach and enhanced security.     


The growing adoption of payment orchestration

According to the survey data, an overwhelming 52% of respondents indicated that their organisations currently employ five or more payment integrations. This statistic clearly demonstrates a strong inclination towards using a diverse array of payment gateways, fraud prevention tools, and other payment services. This substantial percentage clearly highlights the increasing recognition among businesses of the advantages associated with a multi-integration approach.

Over the course of 2022, payment orchestration has gained significant traction in the industry. The global payment orchestration platform market was valued at USD 969 million in 2022 and is forecast to reach a value of USD 4854 million by 2030, at a CAGR of 22.30% over the forecast period, according to data from Vantage Market Research.

Companies have come to realise that by adopting multiple integrations, they can harness the power of a broader network of payment solutions. This enables them to cater to a wider range of customer preferences, streamline their payment processes, and drive higher conversion rates. Furthermore, by diversifying their integrations, organisations can minimise the risk of service disruptions and enhance transaction security, ultimately leading to improved customer trust and satisfaction.

Industry experts have also echoed the rising popularity of payment orchestration as a means to unlock operational efficiency and maximise revenue. According to Flagship Advisory Partners research published on The Paypers, payment orchestration has become a top priority for forward-thinking businesses aiming to achieve seamless payment experiences and enhance their bottom line. By leveraging a combination of payment integrations, companies can tap into the strengths of different providers, leveraging the most suitable features and functionalities for their specific needs.

Empowering development teams for enhanced payments support

In our survey, respondents were asked to identify the aspect of their development team's support for payments that they would most like to enhance. The responses reveal a range of priorities across organisations: while 33% of respondents expressed the desire for more time and resources to deliver new functionality, other notable areas of focus emerged as well. Approximately 19% of respondents highlighted the importance of building integrations faster, recognising the need for speed and efficiency in adapting to the evolving payments landscape.

Moreover, 12.8% of respondents indicated a desire to optimise their current payments stack, signalling the importance of maximising the efficiency and effectiveness of their existing payment infrastructure. These businesses acknowledge the significance of refining their payment stack to enhance transaction processing, minimise friction, and improve overall performance.

The rise of payments orchestration platforms offers a compelling solution to address these multifaceted needs. These platforms provide development teams with the necessary tools and infrastructure to accelerate development cycles, improve resource allocation, and foster innovation in a payments landscape that increasingly aggregates very high competition triggered by outstanding demand and rapidly evolving customer demands.     

Emerging priorities in payments infrastructure initiatives

Businesses are, more than ever, adapting their strategies to meet the changing needs of consumers. Our survey asked respondents to identify the most important development initiatives their payments teams will be focusing on in the next 12 months, providing insights into the shifting priorities within the fintech industry.

Optimising payments emerged as the top priority, with 53% of respondents indicating a focus on payment optimisation, including the management of payment failures and improvements in authorisation rates. This emphasis on optimising payment processes reflects the growing recognition of the critical role that seamless transactions play in customer satisfaction and business success.

Furthermore, 49% of respondents identified Open Banking as a significant development initiative for their payments teams. Payment orchestration also garnered substantial attention, with 44% of respondents highlighting its importance


According to McKinsey research, ‘continued open-data requirements from regulations (Europe) and market pressures (US) are forcing financial services providers to enable API-based access to payments data. Digital natives expect the benefits and efficiency of an API-based integration, so financial services providers that want to participate must create an orchestration layer on top of legacy systems. Retailers moving to the cloud are demanding payments networks and acquirers to support this shift with commensurate infrastructure upgrades of their own’.


These priorities within the payments landscape are also influenced by today's macroeconomic environment, including the economic crisis that reshaped business strategies. In response to a seeming instability and a tremendous need for safeguarding liquidity and consumer retention, companies have recognised the need to optimise their payment processes to ensure revenue stability and minimise financial risks.

Additionally, as businesses expand their operations across regions, 36% of respondents identified regional expansion as a key development initiative. This highlights the growing global nature of ecommerce and the increasing demand for localised payment solutions.

Addressing fraud (30.8%), securing payment methods/vaulting (29%), and regulatory/compliance needs (42%) also emerged as notable priorities within payments development initiatives. These concerns reflect the ongoing efforts of businesses to protect customer data, adhere to regulatory requirements, and build trust in their payment ecosystems.

It is worth noting that while cryptocurrencies (9%) and Buy Now, Pay Later (BNPL) services (25%) are lower on the list of priorities, they still represent emerging trends within the payments industry, indicating the continued exploration of innovative payment methods. We believe larger, more complex projects may be placed on hold in favour of cost containment and provisioning for sustainable growth.

Customer experience as key criteria for shaping the payments mix

When it comes to the customer experience in the realm of payments, businesses recognise the significance of various payment-related functions. In our survey, respondents were asked to identify the functions that have the most significant impact on the customer experience. The results provide valuable insights into the elements that contribute to a seamless and satisfactory payment journey.

An overwhelming 74% of respondents indicated that the successful completion of a transaction has the most substantial impact on the customer experience. This highlights the fundamental importance of ensuring that payments are processed smoothly and without errors. When customers can rely on a secure transaction process, this fosters trust and enhances their overall satisfaction.

Another critical aspect that influences the customer experience is the breadth of payment options offered. Approximately 69% of respondents acknowledged the significance of providing a diverse range of payment methods, including local and alternative payment options. Offering localised payment methods is particularly crucial in today's globalised world, where customers have different preferences and habits when it comes to payments.

For instance, in the Netherlands, iDEAL allows customers to pay directly from their bank accounts, offering a seamless and familiar experience that resonates with Dutch consumers. Latest data confirms that over 1.2 billion payments are made with iDEAL each year, with more than 6 million on peak days. 70% of all ecommerce transactions in the Netherlands are paid with iDEAL. Similarly, in Brazil, the Pix instant payment system has revolutionised the local payment landscape, providing customers with a fast, secure, and convenient method for making payments and transfers. According to data from the Brazil Central Bank, Pix achieved the milestone of 3 billion monthly transactions in March 2023. That is up from a previous record of 2.8 billion by the end of 2022. More recently, with almost 140 million Brazilian users in April 2023, transaction volume hit 1.3 trillion, or nearly USD 260 billion in value. That is also the highest monthly amount since its launch. 

Both examples demonstrate how local payment methods tailored to specific regions can significantly impact the customer experience by providing familiarity and convenience. They also present yet another integration for payments teams to contend with. 

In addition to transaction success and diverse payment options, processing speed emerged as a critical factor for enhancing the customer experience, as indicated by 43% of respondents. Customers today expect fast and efficient payment processing, with minimal delays or wait times. Swift and seamless transactions contribute to a positive customer perception and reinforce the perception of a reliable payment service.

Moreover, the ability to store payment details for future use was identified by 26% of respondents as a function that impacts the customer experience. By offering the convenience of securely storing payment information, businesses can streamline the payment process for returning customers, reducing friction, and enhancing convenience.

Key takeaways for businesses

There is no shortage of advice out there for businesses striving to keep afloat during uncertain times. True valuable advice that can make a palpable difference in decision-making processes should come from vetted data and by compiling relevant experience from each market. 

By carefully analysing the results of the survey commissioned by The Paypers and Spreedly, we have been able to delineate a couple of relevant takeaways that businesses can take into account as they provision for sustainable and reliable strategies in the coming months:

  • Embrace payments orchestration platforms to streamline operations, leverage multiple integrations, and optimise payment processes.

  • Allocate sufficient time and resources for development teams to deliver new functionalities, innovate, and enhance support for payments.

  • Prioritise customer-centric initiatives, such as offering diverse payment options, ensuring successful transactions, and focusing on processing speed.

  • Keep pace with emerging payment trends, including Open Banking use cases in ecommerce. Fraud prevention is instrumental to staying competitive in the market.

  • Adapt to localised preferences by incorporating popular local payment methods, catering to regional markets' needs and preferences.

The survey results shed light on crucial insights for organisations striving to stay ahead. By considering these conclusions and implementing the suggested takeaways, businesses can find themselves in the unique position to enhance their payments infrastructure, improve customer experiences, and drive growth in what is shaping up to be a volatile and ever-evolving fintech landscape.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: fintech, merchants, marketplace, payments orchestration, Open Banking, fraud prevention, payments infrastructure, compliance, BNPL, cryptocurrency, customer experience, payment methods, ecommerce, local payment method
Categories: Payments & Commerce
Companies: Spreedly
Countries: World
This article is part of category

Payments & Commerce


Discover all the Company news on Spreedly and other articles related to Spreedly in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events