Payments Orchestration: Your Key to Transaction Harmony

Payments orchestration - even if you’re a veteran merchant services provider, it may be a foreign term for you.

It’s actually a relatively new concept in the payments solutions landscape and refers to bringing different payment methods and systems together to make transactions go smoothly.

But it’s becoming increasingly important for many reasons that are critical for anyone working in merchant services to understand.

We’ll dive into the many benefits of payments orchestration shortly, but first, let’s have a look into the workday of Sandra, the E-commerce Director for a consumer products company.

Sandra has a lot on her plate, and her company is growing - FAST. Her days are spent overseeing transaction and routing processes, ensuring proper integration of payment gateways, monitoring fraud detection, compliance, and security while helping her team provide a great customer experience.

Add the global expansion initiatives proposed by leadership, and Sandra is on the fast track to being overwhelmed.

After hearing about other companies benefitting from payments orchestration and how the processes can be integrated into Dynamics 365 Business Central, Sandra’s eager to understand the concept and benefits.

What is Payments Orchestration?

On a high level, payments orchestration involves using an API integration to centralize and streamline the management of payments providers, methods, processors, gateways, and security vendors.

Think of it as having a conductor who organizes all the musicians and their instruments, guiding who plays which part and when.

No guesswork - streamlined processes that - when followed - ensure a symphony of productivity leading to increased customer satisfaction and more time for higher level, more strategic initiatives.

The great news is that if you’re in the Dynamics 365 Business Central space, U.S. Transactions Corp. has integrated payments orchestration into the platform.

So you and your team can access all the resources you need in one convenient place. Cloud-based, centralized control and management, access to every payments provider, plus adaptability and scalability–it’s the whole package.

Merchant benefits from payments orchestration

Are you a little skeptical about the “magical” claims above and how payments orchestration can bring order to the chaos of merchant services? Let’s address that first.

• Efficiency and cost reduction - Similar to how musicians follow a choreography of movements, cues, and timing, payments orchestration efficiently choreographs the flow of payments to their destination via streamlined processes that reduce complexity in payment integrations and minimize the need for multiple connections. This enhanced or dynamic payment routing can improve authorization rates and reduce operational costs by routing payments to lower-fee payment processors. Saving money and happy customers for the win!

• Risk management and reduced PCI compliance scope - Payment orchestration incorporates centralized fraud protection and monitoring to ensure that the various payment processors and payment methods a merchant uses are secure and adhere to regulatory requirements. In addition, a PCI-compliant vaulting service securely stores card data and allows the safe transfer of card tokens between various payment options. Data security? CHECK!

• Scalability and new markets expansion – Payment processors that offer more gateways and an abundance of payment service providers ensure customers can scale and expand to new markets without missing a beat. What’s more, onboarding new partners and services with a fast and easy process encourages expansion into new regions.

Just as a jazz band improvises and adapts to changing tempos, you’ll be able to adapt and scale to expand into new markets!

Exceptional customer experience with payments orchestration

It’s no secret that customer experience can make or break your business.

And that’s the other great news about payments orchestration - it’s a payments solution that benefits your customers as much as your company.

• Failover capabilities - Earlier, we mentioned reduced payment failures and declines, leading to faster transaction processing. Failover refers to a system’s ability to switch automatically and seamlessly to a reliable backup system, eliminating friction in the payments process and its negative impact on users.

As an essential component in reducing abandonment rates and payment process disruptions, failover capabilities are another notable feature of payment orchestration and best-in-class customer experience.

• Improved Security - To say that data breaches are a valid concern for your customers is an understatement. Fortunately, the centralized storage and management of payment data inherent in adopting payments orchestration makes it more difficult for hackers to access and steal payment data. Combined with enhanced fraud detection and prevention tools like tokenization, encryption, and data segmentation, your customers can rest assured that their data and money are safe.

• Choice and Convenience - Payments orchestration enables merchants to accept payments from a variety of sources, including credit cards, debit cards, digital wallets, and bank transfers. Like a conductor who coordinates multiple instruments to create a memorable performance, payments orchestration coordinates the vast number of payment method options to create a seamless customer payment experience.

Let’s get back now to our over-burdened e-commerce director, Sandra.

After learning more about payments orchestration, it didn’t take much for her to jump on board and pitch the idea to the company’s CFO.

USTPay was an easy payments solution decision for them, because it’s already built into Dynamics 365 Business Central and available on Microsoft AppSource.

Their vetting of other providers convinced them that USTPay could provide the best features and benefits for the company AND their customers.

If you’re fed up with your team being overwhelmed by managing the processes, security ramifications, and customer issues inherent with payment processing, we’d love to help - it doesn’t have to be so hard! Learn more at https://www.ustranscorp.com/ustpay.

Are you among the many Payment WorkSuite or ChargeLogic Connect users searching for a new payment processor?

We can help!

Please check out our related blog: Switching Payment Processors: What You Need to Know.

About Wade Tetsuka:

Wade Tetsuka is a visionary leader with over 15 years of experience as President of U.S. Transactions Corporation, where he has helped transform the landscape of B2B merchant services.

His deep expertise in finance, coupled with a keen understanding of compliance and client management, has positioned UST–a leading Fintech company and Independent Software Vendor (ISV) for Microsoft Dynamics 365–as a trailblazer in helping businesses save money and streamline payment processes.

As the founder of Presidential Forum LLC, an exclusive network for C-level executives, Wade fosters thought-provoking discussions that shape industry trends and leadership strategies. His commitment to excellence and forward-thinking approach makes him a sought-after voice in both the Fintech and executive leadership arenas.

Connect with Wade on LinkedIn.