Fri Sep 20 08:00:29 UTC 2024: ## Payments Orchestration: The Key to Platform Success in a Diverse Payment World

**[City, State] – [Date]** – In the rapidly changing world of e-commerce, marketplaces and aggregators face increasing pressure to offer a wide variety of payment options to their merchants. A new PYMNTS Intelligence report, in collaboration with Spreedly, highlights how **payments orchestration** is emerging as a crucial solution for these platforms to manage complex payment systems and strengthen merchant relationships.

The report reveals that the demand for diverse payment methods is exploding. By 2028, local payment methods are projected to represent 58% of global e-commerce transactions, driven in part by the rise of account-to-account (A2A) payments. This shift underscores the critical need for platforms to adapt and offer the payment options their customers prefer.

However, integrating multiple payment service providers (PSPs) can be a daunting challenge. Platforms often struggle to build relationships with every merchant’s existing PSP while simultaneously providing a comprehensive range of payment gateways. This results in increased operational costs and employee workloads, as 80% of businesses struggle to pinpoint the causes of payment failures.

Payments orchestration emerges as a powerful solution. By offering a unified platform, it streamlines the onboarding of new merchants and provides access to various payment gateways and regulatory compliance. Platforms can focus on scaling their operations instead of being bogged down by individual payment processing issues. This approach not only enhances the merchant experience but also significantly reduces the risk of payment declines, which cost U.S. businesses an estimated $81 billion last year.

The benefits of payments orchestration extend beyond traditional e-commerce. Nonprofits, unions, and similar organizations can leverage it to seamlessly integrate multiple payment gateways, making fundraising and member engagement more efficient.

By facilitating quick onboarding and access to diverse payment options, payments orchestration enhances platforms’ competitiveness. This attracts more merchants and ensures compliance with international regulations, allowing platforms to confidently expand into new markets while delivering a seamless experience for merchants and consumers.

As demand for diverse payment options continues to increase, payments orchestration becomes essential for platforms looking to thrive in the evolving e-commerce landscape. It streamlines integrations, enhances the merchant experience, drives growth, improves customer satisfaction, and builds lasting partnerships, positioning platforms as leaders in innovative payment solutions.

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