Payment orchestration is the process of integrating, optimizing, and managing various payment methods and channels in order to streamline and simplify the payment process for merchants and their customers.
Payment orchestration involves the use of a centralized platform or API that aggregates and manages multiple payment gateways, acquirers, and processors. This platform acts as a connector between the merchant’s website or application and the various payment methods, allowing them to accept payments from customers seamlessly, regardless of the payment method or channel.
Payment orchestration platforms can also provide features such as fraud detection and prevention, transaction monitoring, and data analytics, which can help merchants optimize their payment processes and improve their overall business performance.
In summary, Payment Orchestration provides a unified and simplified way for merchants to manage and accept payments, which can result in increased efficiency, improved customer experience, and ultimately, higher revenue.