Payment Orchestration Platform (POP)
A Payment Orchestration Platform (POP) is a centralized system that manages and optimizes the entire payment process. It integrates with multiple payment gateways, acquirers, and alternative payment methods, and offers a unified interface for businesses to handle their payment operations.
These platforms enable businesses to enhance payment acceptance rates, reduce costs, and simplify payment operations. By using a POP, businesses can centralize their payment operations, reducing the need for multiple integrations with individual payment providers and gateways.
This not only simplifies the technical integration process but also enables businesses to access a broader range of payment methods and providers through a single interface.
POPs often come with additional features such as smart routing, which automatically routes transactions to the most appropriate provider based on various criteria such as cost, acceptance rate, and geographic location.
This helps businesses to optimize their payment acceptance rates and reduce transaction costs. Additionally, POPs often include tools for fraud prevention, chargeback management tools, and reporting, helping businesses to manage their payment risks more effectively.