How Payments Orchestration Can Facilitate Payment Integrations

Oct 30, 2020

Operating an e-commerce business is becoming increasingly more complex. Online business owners must manage their daily operations, customer demands, a rapidly evolving economy, innovative technology, and solid competition. 

More often than not, merchants also face the tremendous challenge of handling their payment infrastructure. This aspect is often neglected due to a general lack of technical expertise to navigate its many intricacies. Inadequate funds are also key issues as to why new payment integrations can’t be developed from the ground up. Limited funds also force many merchants to keep to a single gateway. Although this does simplify operations, on the flip side, they are only limiting themselves from accepting other forms of payment. And this means fewer conversions.

Payment orchestration is the solution for businesses that desire to scale fast and to address these complexities in operations.

The Benefits of Having A Payments Orchestration Provider 

Since the “payment machinery” can be so convoluted, it demands the best possible and astute platform. The benefits of having a Payment Orchestration Provider (POP) handling the value-chain from beginning to end cannot be emphasized enough. Here are just some of the reasons to consider implementing this strategic decision.

 

  • Go-To-Market, Faster: A Payment Orchestration Platform facilitates a straightforward, “one-time integration environment”. It also tests the payment methods and providers, even before the merchant launches their site in their region. 

 

POPs have a modular structure. Due to its “global connectivity”, businesses can address any inconsistencies and formulate a strategy for their expansion. They can do all this while simultaneously solidifying their base in their existing territories.

  • Be The Innovator: Payment processing is a time and resource-consuming activity. By implementing POP, merchants are able to free up their time and financial resources in order to develop their business. When POPs have taken over the role of managing a complex payment infrastructure, merchants can take advantage of accessing new, innovative technologies as soon as they are released. 

Furthermore, businesses can redirect their focus on developing new product lines, target niche markets, and develop plans for their future. By outsourcing the entirety of the payment cycle, the business owners gain so much more. 

 

  • Economical Efficiency: Creating an in-house payment engine is a significant expense. These costs involve offering a smooth customer experience, lowering transaction costs, managing security issues, implementation of payment routing, and so much more.  Through POPs, merchants are saving considerably on the payment setup and the costs of transaction processing. With these savings, merchants can redirect these cost savings to build their core skills. 

 

 

  • Enhanced Customer Experience: All e-Commerce businesses know that their survival hinges on whether the customer completes their online purchase.  Flawed payment processing, along with a clumsy checkout experience can mean disaster for the merchant’s bottom line. With POPs, a merchant can rest assured that the entire experience will be problem-free. There will be fewer checkout steps and a more engaging payment page. 

 

POPs ensure that, regardless of the device or channel used, the payment experience will be safe, unified, and consistent. 

Propel Your Business Forward

As the cost and complexity of growing an online business continue to increase, it is in the best interest of merchants to outsource the complex payment infrastructure. Payment orchestration is the best strategy you can implement today so that you can focus on growing and expanding your core business tomorrow.

Let us help you get a high risk merchant account today!

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending on the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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