5 FinTechs propelling the UK payment orchestration market
By Gloria Methri
Payment orchestration has gained momentum over the past few years as more businesses flourish internationally, amid the continued growth of cross-border eCommerce. Payment orchestration is a layer between a merchant and its partners in the payment ecosystem. It enables merchants to offer and adapt to new payment methods and technologies as they emerge.
Merchants connect to a payment orchestration platform through API integration, and once connected, they can access unlimited payment providers and payment methods worldwide. Merchants can personalize checkout experiences for every customer, create dynamic and smart rules for routing and retries, tokenize transactions, migrate data between providers and much more.
As per a BlueSnap annual report, payment orchestration is expected to be the biggest payment trend in 2024.
Let’s look at five emerging payment orchestration platforms in the UK market.
APEXX acts as a Payment Orchestration platform combining all the world’s acquirers, gateways, shopping carts, and alternative payment methods into a single integration. APEXX consults its enterprise-level customers to consolidate their global Payment Service Provider relationships and display all their reporting and transactional data in a single interface.
APEXX also integrates additional services that merchants require to streamline their services. Some of these include EPOS systems, VAT calculation tools, AML management services, banking services, Foreign Exchange platforms, and Fraud and Chargeback management software.
BR-DGE is a global marketplace powering billions of transactions globally. The company has built an independent payment orchestration platform, that is simple to integrate and easy to adopt, enabling merchants to build resilience, consolidate reporting and innovate at speed. In an increasingly competitive and complex payment landscape, with fast-evolving customer demand, BR-DGE empowers merchants to take control of the end-to-end payment journey.
CellPoint Digital offers omnichannel payment and digital commerce platforms to optimise payments for airlines, travel companies, retailers, etc. Its Payment Orchestration Platform optimises digital payment transactions, from cards or alternative payment methods, and accelerates the deployment of new payment options.
Merchants can easily scale their payment ecosystem across the world, unify the customer payment experience across their website, mobile apps, and other channels, optimize the routing of each transaction, increase conversion rates and minimise payment costs.
Founded in 2018, Corefy is a payment platform and payment hub for online businesses and payment institutions. It integrates payment providers and acquirers all around the world to bring a unified communication, control, and management interface. Corefy’s customers feature some major international companies and financial firms worldwide, that benefit from 400+ ready-made integrations with payment providers and acquirers globally.
Paydock is a FinTech offering orchestration solutions to financial institutions, brand retailers and non-profit organizations. With the ability to create ‘many-in’ as well as ‘many-out’ solutions through a single service, PayDock enables rapid construction of compliant, cost-effective, and adaptive payment ecosystems. Paydock connects businesses to a sophisticated payment stack through a single service and adds new services as they grow.
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