Payment orchestration; A route to better revenue
A lot of work goes into directing customers to your online site and persuading them to buy, then at the point they’re about to get over the line, their payment doesn't go through. This happens over and over again – and with 62% of customers abandoning a purchase when a transaction fails, it’s costing online businesses like yours big money.
There are many reasons payments fail, most of which payment orchestration can solve
There are many reasons why an online payment might fail.
- Software outages and service failure
- Abandoned baskets due to not accepting the right payment type
- Failed payments caused by other issues in the payment stack.
There are many reasons why an online payment might fail.
- Software outages and service failure
- Abandoned baskets due to not accepting the right payment type
- Failed payments caused by other issues in the payment stack.
Bridge's technology optimises a retailer’s payment capability, improving the customer experience, elevating revenues and reducing operational costs, through a process called payment orchestration.
It’s being used by forward-thinking companies who know that securing revenue by all means possible is the key to getting ahead of the competition.
Unlike other existing orchestration or payment technologies, Bridge offers the ability to:
- Accept all payment types, to make sure you can transact in your customers' preferred format
- Connect to multiple PSPs in real time, meaning if one has an outage, that needn't affect your ability to take payment
- Automatically choose the most cost-efficent way to transact, saving money on expensive transaction fees
- Stay FCA compliant during payment regulation changes
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