When implemented, Payment Orchestration Platforms create capabilities that would be difficult or impossible to achieve with traditional payment setups.
Dynamic payment routing, perhaps the most powerful of these capabilities, uses intelligent algorithms to direct payments to the most cost-effective and reliable provider in real-time. This isn't just about finding the cheapest option – it's about striking a balance between cost, reliability, and performance to maximize both conversion rates and profitability.
Payment Orchestration Platforms also enable customizable payment experiences, which allow travel merchants to present different payment methods based on geography, device type, or customer preferences. A customer in Germany, for example, might see different options than someone in Japan or Indonesia.
And speaking of meeting the needs of customers in far-flung localities, global scalability is also a high priority for most travel merchants. This becomes possible when Payment Orchestration Platforms can easily integrate local payment methods as businesses expand into new markets, rather than rebuilding payment infrastructure for each new territory.
Advanced analytics and reporting provide insights into payment performance across all channels and providers. This visibility enables data-driven decisions about provider selection and routing rules. Similarly, these systems can try alternative providers or payment methods without requiring customer intervention, reducing payment failures, abandoned purchases and lost revenue through cascading and retry logic.
