How can payment orchestration increase revenue for your order and pay service?
Order and Pay businesses do a lot of heavy lifting to get customers on to their site and persuade customers to buy the products. But at the point that customers are about to get over the line and secure their order their payment technology lets them down, this can discourage 62% of customers from continuing the order, which is costing your business a lot of money.
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.
Many order and pay services believe these failures are unavoidable - but that's not true!
What is Payment Orchestration, and how can it optimise your payments technology?
Bridge's technology enables seamless digital ordering, improving the customer experience, elevating revenues and reducing operational costs, through a process called payment orchestration.
It’s being used by forward-thinking Order and Pay services 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-efficient way to transact, saving money on expensive transaction fees
- Stay FCA compliant during payment regulation changes
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