Global Payment Orchestration Platform Market Forecast, Trend Analysis And Competition Tracking - Market Insights: 2015 – 2031

Payment Orchestration Platform Market Overview:

The Payment Orchestration Platform Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.

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In the world of business, it is imperative to have a reliable payroll system in place. Managing all employees’ wages and salaries can be difficult, but an automated system will ease this burden.

The concept of a payment orchestration platform rewards companies for having a steady cash flow with efficient cash management practices.

This will improve your company's operational efficiency while giving you more time to focus on other aspects of your business.

Credit card networks are notoriously difficult to integrate due to their different protocols and APIs, but integration with these networks can be accomplished through a payment orchestration platform.

The platform allows merchants to make payments without worrying about how they are processed or what tools are needed to process them. The platform also gives users flexibility in determining which system they use for each respective.

Lenders are always looking for ways to reduce the friction between their institutions and vendors. One area of friction is payment orchestration.

Often, a borrower will have to apply with the lender’s vendor through an entirely different process before being able to receive a loan.

Fortunately, a solution simplifies the process by integrating payment orchestration into the application process.

Payment Orchestration Platforms (POPs) are a relatively new concept that has been in use in the financial industry for over ten years.

POPs were designed to solve the problem of e-commerce businesses having to connect with various payment gateway providers and manage them individually.

The goal of POPs is to consolidate all of the payment options for an e-commerce business such as Stripe, Authorize.net, PayPal, and more.

A Payment Orchestration Platform is a software product that gives banks and companies greater control over overpayments. It's helpful in situations where the sender doesn't have a bank account, or if the recipient has multiple payment methods.

It can be used to avoid fraud by tracking payments, optimizing supplier relationships, and winding down failed transactions.

The global Payment orchestration platform market is segregated into type, functionality, end-user, and regions. On the basis of type, the global Payment orchestration platform market is sub-segmented into B2B, B2C, and C2C.

With respect to functionality, the global Payment orchestration platform market is distributed into cross-border transactions, risk management, and advanced analytics & reporting.

On the basis of end-user, the global Payment orchestration platform market is sub-segmented into e-commerce, travel & hospitality, healthcare, BFSI, and other end users.

On the basis of region, the global Payment orchestration platform market is sub-segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The Growing Popularity of Buy Now Pay Later (BNPL) platforms among merchants worldwide:

Buy Now Pay Later (BNPL) is an increasingly popular service among merchants worldwide. The service offers shoppers the ability to buy now, and pay later.

This is helpful for people who do not have enough cash on their hands or are otherwise unable to pay upfront for their desired items.

This option also provides convenience to the customer, who can wait to receive their paycheck before paying for their purchase.

Consequently, BNPL promotes the sale of more products since customers are more likely to buy with this financial flexibility.

Increasing adoption of digital payment solutions among retail companies:

Digital payment solutions are in the midst of a major rise in popularity among retail companies.

The trend is seen around the world, with many retailers in emerging economies taking advantage of the solution for their customers’ convenience and security.

This has helped to improve their competitive positioning, as well as their customer loyalty. By offering digital solutions, retailers are also able to eliminate cash handling costs and reduce risks associated with carrying cash on-premises.

Rising penetration of smartphones and internet connectivity worldwide:

The global penetration of smartphones and internet connectivity can be attributed to the convergence of mobile networks, changes in regulations/legislation, and the development of affordable mobile data packages.

Not only are these factors influencing smartphone usage, but they are also fueling the spread of connected devices such as tablets.

Several venture capital funding companies invest in payment orchestration platform companies, which helps them enhance their offerings:

The Payment Orchestration Platform is a system that centralizes all mobile payments. It allows customers to have one login for all their payment processing needs.

The platform was designed by mobile payment experts who saw the need for a comprehensive system to help simplify the process of transferring money between individuals, businesses, and banks.

The power of this system lies in its ability to allow users to easily manage their financial needs from one account.

COVID-19 Impact Analysis on Payment Orchestration Platform Market:

The coronavirus pandemic has accelerated online merchants' expanding reliance on electronic networks, with online platforms for others. COVID-19 is currently affecting long-standing trends and routines that are changing, and also providing opportunities to fast-growing groups of individual participants.

North America is expected to dominate the global market:

The global payment orchestration platform market is sub-segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Markets in North America are expected to account for the largest share due to the increasing deployment of smart parking meters, as well as technological advancements in these meters.

Furthermore, as the number of unmanned stores in the United States grows, so does the market for digital payment solutions.

Competitive Landscape of Payment Orchestration Platform Market:

• Cell Point Digital
• ZOOZ A PayU Company
• IXOPAY
• Payoneer
• Corey
• Aye4fin GmbH
• Bridge
• Amadeus IT Group SA
• Ingenico ePayments India Pvt. Ltd.
• APEXX Fintech Limited
• Other Key Players

Report Scope of Payment Orchestration Platform Market

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Segments Covered :

Global Payment Orchestration Platform Market by Type

• B2B
• B2C
• C2C

Global Payment Orchestration Platform Market by Functionality

• Cross Border Transaction
• Risk Management
• Advanced Analytics & Reporting

Global Payment Orchestration Platform Market by End User

• E-Commerce
• Travel & Hospitality
• Healthcare
• BFSI
• Other End Users