If your business wants to accept different types of payments from customers around the world, using a Payment Orchestration Platform (POP) can be really helpful. As an online business, dealing with payments in various global currencies can be a bit of a puzzle. It’s not easy to keep track of transactions between your sellers and customers, but a Payment Orchestration Platform lets your business take charge of these transactions. This means you can make sure all payments go through smoothly and without any problems.
In this blog post, we will explore the world of payment orchestration platforms and explain the top 7 Payment Orchestration platforms in 2023. These platforms can help your business handle payments more efficiently, making the whole process a lot easier for you and your customers. Stay tuned to discover the tools that can make a real difference in streamlining your payment processes and keeping your business running smoothly on the global stage.
1. IXOPAY
IXOPAY, a fantastic payment orchestration platform (POP) for 2023, is something you should be aware of if you are managing payments for your business. IXOPAY simplifies life for businesses like yours, working as a kind of payment genius. All of your payment-related tasks can be managed in one place using its software, making it your go-to resource. It connects easily with various payment service providers, acquirers, processors, and other tools you need. The amazing part? This payment gateway is ideal for enterprises with global customers, as it offers a vast network of more than 200 payment options and over 100 payment service providers.
IXOPAY has cool features such as fallback options, smart routing, automated card updates, customised dashboards, and real-time reporting, just like other similar solutions. What makes IXOPAY stand out for you is its focus on automatic card updates, which is unique. By ensuring smooth payments, this feature lowers the possibility of mistakes and payment difficulties. IXOPAY goes above and beyond by handling fee management, automatically sorting payments, monitoring risks and fraud, and making smart payment choices. IXOPAY is your best option entirely, as it ensures that payments go through easily and securely, which is beneficial for both your customers and your company.
Website Link: https://www.ixopay.com/en/product/platform
Key Features:-
- Smart Transaction Routing
- Customer Payment Profiles
- Integration Options
- Risk Management Engine
- 185+ Adapters
- Fully PCI Compliant Card Vaulting
- Monitoring And Reporting
- Secure Payouts
2. Akurateco
Next on our list is Akurateco, a top player in payment orchestration platforms for 2023. Based in Amsterdam, they are the preferred choice for businesses, offering easy payment solutions across different industries. The cool thing is, with just one setup, you get access to a bunch of handy features: more than 300 payment connectors, an organised way to monitor your costs with a payment calendar, and much more. What makes Akurateco special is how they help your business succeed. They have smart techniques such as automated retries, which could increase your approval rates by up to 20%. Additionally, there is a feature called cascading that can potentially increase conversion rates by an exceptional 30%.
They can also help you make informed decisions for the development of your business by providing you with real-time tracking of payment statistics. Akurateco helps you develop a larger and more devoted customer base by providing a variety of payment alternatives, reducing mistakes, and simplifying refund processes. Akurateco makes your life easier by automating your payment processes, making things run smoother, distributing traffic efficiently, and helping you make decisions based on data. They also provide a variety of ways for you to connect with them, including a Hosted Payment Page (HPP), Mobile SDK, CMS Plugin, and API rest/API soap. All of these options are meant to make things as easy as possible for you. So, in total, Akurateco is your trusted partner, providing your company with all the resources it needs to take over the digital payments space.
Website Link: https://akurateco.com/payments-orchestration-platfrom
Key Features:-
- Billing And Smart Invoicing
- Mobile SDK
- Intelligent Payment Routing
- Admin Panel
- Payment Analytics
- Payment Fraud Prevention
- Tokenization
- Connectivity Box
3. Magnius
Let’s talk about Magnius, a top-notch white label payment orchestration platform (POP) making waves in 2023. Magnius offers an advanced Intelligent Payment platform that can be used by banks, payment service providers (PSPs), financial institutions, and large merchants. Imagine a system that works for large enterprises combined with a Software as a Service (SaaS) model. What’s in it for you? Well, Magnius is like a superhero for your business, helping you boost sales, grow faster, tackle payment fraud, avoid getting stuck with one provider, and even reduce your IT expenses by an astounding 75%. Magnius can help you in a variety of circumstances; it’s not just something that does one thing.
Magnius is your go-to choice, whether you want to try out the newest payment technology, grow internationally into new markets, or run an entire show as a PSP or merchant. Giving you the ability to manage your business independently and grow without difficulty, it provides an all-in-one platform for payments. The promise made by Magnius to improve corporate processes, strengthen security, and assist in navigating the complexities of international marketplaces is what sets it apart from the competition. Magnius is a partner in success for banks, payment service providers, and large retailers. It is designed to assist you in increasing productivity, expanding beyond previous limits, and maintaining your edge over your competitors in the financial industry.
Website Link: https://magnius.com/
Key Features:-
- White Label Platform
- Flexible Check-Out Customisation
- More Than 450 Payment Methods
- Complete Analysis And Reporting
- Easy Onboarding And KYC
- Integrated Risk Tools
- Audit Trails
- Multi-Language Supported
4. NORBr
Get ready to elevate your business game with NORBr, a standout player among the top payment orchestration platforms in 2023. NORBr brings an entirely new perspective to the table, especially with its star performer, NORBr Infra. By adding their brand to the payment system, businesses can add a personalised touch and build client trust. This innovative solution gives businesses the ability to design their own payment system and make it unique. Customisation is only one aspect of NORBr Infra; it also offers a range of features that are specifically designed for the rapidly evolving digital world.
These features include bank transfers, digital wallets, and credit cards, among others, so your company can satisfy a wide range of preferences that customers have. Security is a top priority for NORBr, evident in the detailed protocols outlined in their product documentation, showcasing a commitment to keeping your financial information safe and sound. Another notable aspect of NORBr Infra that makes it ideal for companies of all sizes is its versatility. It’s similar to having a customised solution that grows hand-in-hand with your business. NORBr leads the way with its innovative and user-friendly white-label payment gateway, offering a dependable way to get around the ever-changing digital marketplace with simplicity and confidence.
Website Link: https://norbr.com/
Key Features:-
- Payment Security
- Smart Unified Checkout
- No-Code Platform
- Effortless Integration
- Custom Dashboards
- Simplify Payment
- High-Quality Service
5. Payoneer
In 2023, Payoneer has risen to the top of the rankings as the best payment orchestration platform (POP), mainly because it’s got your back with a bunch of awesome payment options and services. If you are running a global business, Payoneer’s got you covered with over 100 ways to get paid in more than 200 countries and multiple currencies. They make things super easy with their global automated payment system and some cool services, such as linking up with your business software, giving you flexible payment approval, quick number reconciliation, and handy risk and tax reports. It’s not just about making payments, though. Payoneer steps up the game by making sure your payment process is safe, secure, and following all the rules.
Now, here’s where it gets even better. Payoneer helps you simplify and smarten up your payment game. Whether it’s paying out to a bunch of people, sorting out payments automatically, or cutting down on extra fees and payment issues, Payoneer’s got you covered. They are all about making it fast, flexible, secure, and budget-friendly. It’s like having a payment buddy that makes global transactions as easy as local ones. And guess what? Payoneer gives you choices with three different ways to connect your business; you can pick what suits you best, whether it’s HPP, iFrame, or a non-integrated option. So, if you want to rock the global payments scene in 2023, Payoneer’s the way to go.
Website Link: https://www1.payoneer.com/in/
Key Features:-
- User-Friendly Platform
- Request A Payment
- Payment Service Globally
- Amazon Store Manager
- Access Digital FIRC (Foreign Inward Remittance Certificates)
6. Nexio
In the world of payment orchestration platforms (POP) for 2023, Nexio is your best companion. If you are a merchant looking to simplify the often complicated payment scene, Nexio is here for you. It performs the role of your assistant, supporting you while you adjust to major changes in the corporate sector, new regulations, and around the globe changes. You can come up with an innovative payment plan with Nexio that can set you up for success both today and in the future. With only one point of connection, it simplifies the process for you and allows you to easily expand into various fields without any challenges. Plus, you are the boss, in full control, ensuring your data stays secure and giving you the freedom to avoid getting stuck with only one choice.
Safety comes first, too. With Nexio, you can maintain your clients’ trust and sales by preventing fraud and chargebacks. Furthermore, the main focus of Nexio is automated payment processing, which lowers processing fees and boosts the possibility that your transactions will be successful. Nexio has a backup plan ready to go in case things don’t go according to plan. It will help you overcome any difficulties, such as refused transactions, and get back on track. Your company will be prepared for the future with Nexio, as it will always have access to the newest technology and resources. What’s the best part? You get to choose your preferred gateway and processor because, when it comes to payments, you are the one making the decisions.
Website Link: https://nex.io/
Key Features:-
- Intelligent Payment Routing
- Security Layer For Checkout
- Global And Agnostic Payment Processing
- AI Fraud Prevention
- Rapid Customer Onboarding
- Cross-Border Payments
- Embedded Payments For SaaS
- Create Subscriptions
7. Spreedly
Imagine Spreedly as your trusty sidekick in the world of Payment Orchestration Platforms for 2023. It’s your go-to assistant if you are a merchant, part of a marketplace, or running a platform, making transaction processing a breeze across various gateways and services. Spreedly’s smart routing feature is like a secret weapon, creating a winning combo of payment gateways and related services. What does this mean for you? Well, it’s all about getting the most bang for your buck in transactions and having a super flexible payment setup. But that’s not all; Spreedly goes above and beyond. It’s similar to having a personal coach for your online business.
You receive actionable insights, performance updates, and even comparative analyses with companies that are comparable to yours. Additionally, Spreedly offers tools for teams, so if you are knowledgeable about technology type, check these out as well. They can carefully examine transactions to ensure that your payment setup is correct. With Spreedly, managing transactions is only one aspect of using the platform; another is enhancing the intelligence and productivity of your business. So, whether you are a pro or just starting, Spreedly has your back, helping you not only process payments but also grow strategically in the world of digital transactions in 2023.
Website Link: https://www.spreedly.com/
Key Features:-
- Easy connectivity With PSPs
- Comply With Regulations
- Connect Payment Services
- Route Payments Intelligently
- Cost Containment
- Secure Payment Methods
- Keep Customers Transacting
- Report On Payments
Advantages Of Using The Payment Orchestrations:
Payment orchestration platforms (POP) are useful for all kinds of businesses, whether you have a small online shop or a large international business. These platforms help businesses stay competitive and succeed in today’s business world. Mentioned below are some of the advantages of using payment orchestration:
- Enhanced Scalability And Integration: When you are growing your business and entering new markets, it can be tricky. Dealing with different rules and integrating local payment methods is a challenge. But with a Payment Orchestration Layer, things get easier. It’s like a helpful tool that simplifies the process. By bringing together different payment services in one layer, it lets you add new payment options quickly and make your business grow faster.
- Efficient Customer Experience: Making sure that your customers have a smooth experience is super important. Did you know that around half of online shoppers leave their carts because of payment issues? The Payment Orchestration Layer is like a superhero for this problem. It helps make your checkout process easy and friendly, allowing customers to stay on your site or app without going to other pages. Plus, you can offer lots of payment choices effortlessly. This makes things simple for online shops and sellers, ensuring customers have a happy and hassle-free shopping journey.
- Increased Payment Flexibility: With payment orchestration, you can make your payment options more flexible. This cool tool lets businesses give customers a bunch of ways to pay, such as debit cards, credit cards, digital wallets, and other methods. It brings all these choices together in one place, making it simple for businesses to meet different customer preferences and reach more people.
- Reduced Payment Processing Costs: Save money with payment orchestration, as these platforms make online stores spend less on operations by automating payments. They smartly choose the cheapest channels for transactions, helping online businesses cut down on payment processing costs. Plus, payment orchestration platforms get rid of extra fees, reduce setup costs, and let e-commerce companies get better deals by working with different payment providers.
- Comprehensive Data Analytics and Reporting: Payment orchestration platforms make it simple to understand your payments. They make it easy to check payment data by bringing together all of your payment service providers in one place. Creating real-time reports for several providers is a fast process. What’s the best part? It’s easy to ensure that everyone is on the same page by sharing this information with financial authorities, fraud detection services, and merchants.
- Smart Routing: Take charge of your payments with payment orchestration platforms and their smart routing features. These platforms let online sellers dynamically guide payments by setting up simple rules. For example, businesses can automatically send transactions through channels that offer the best deals, such as giving low-risk payment options to high-risk customers or choosing channels with low transaction costs. It’s like having a handy tool to make your payment processes more flexible and efficient.
- Enhanced Security And Risk Management: The security of transactions is essential and Payment Orchestration solutions prioritise this. With a focus on preventing fraud and protecting transactions, they follow strict rules established by global financial regulators. With built-in features like extra verification steps and hiding credit card details, these solutions are like adding extra locks to keep things safe. They also analyse payment data to catch possible problems early on, and by using special tools, they make sure transactions are secure and risk-free.
- Access to a Variety of Payment Methods: Payment orchestration platforms are handy for your online shop because they will let you use different approved ways to get paid. These platforms make it easy for you to add new payment options to your websites with just one connection. This is super useful for shops that have customers from around the world who like to pay in different ways, like using buy now, pay later plans, mobile wallets, or various credit and debit cards.
Conclusion
The way we handle online payments is changing fast, especially in 2023. Businesses are on the lookout for smart solutions to make their payment processes smoother. The top payment orchestration platforms we have talked about are like reliable helpers, each bringing its cool features to make payments better. Whether it’s making things more scalable and integrated or ensuring customers have an easy time, these platforms are like a guide for businesses in the digital world. They are not just about making things convenient; they give businesses a smart advantage in the competitive online market. In 2023, it’s clear that these platforms are becoming even more important, giving businesses the tools they need to do well in the fast-paced world of digital transactions.