Transaction Network Services (TNS) has today released a new report ‘A Guide to Payment Orchestration: Navigating in-person and online payment complexity’ in conjunction with Flagship Advisory Partners. The report aims to help unattended merchants and fuel and convenience retailers tackle the complexity of the current payments landscape, with new research identifying market trends, exploring common challenges and providing actionable insights about the most popular payment ecosystems.
Self-service retailers are navigating an increasingly complicated payment landscape – from unattended to online, rapidly changing consumer behavior, and ever-increasing technology and regulatory demands. This new report aims to address the complications of today’s landscape and investigate why many leading organizations are selecting in-person and online payment orchestration.
“Seventy six percent of enterprise merchants enable their payment stack through orchestration services, demonstrating the clear market demand for payment orchestration and the implementation of a true flexible-vendor solution, especially in the unattended payments vertical,” said John Tait, Global Managing Director, TNS Payments Market. “TNS’ new report presents actionable strategic insights into how omnichannel orchestrators can provide enterprises with the ability to pick the best-in-class services required to meet their payment needs.”
The report shines a spotlight on how verticals such as unattended merchants and fuel and convenience retailers have driven the demand for payment orchestration in previously in-person payment scenarios.
Payment orchestration allows enterprise merchants to build a unique payments ecosystem that can grow and scale quickly and help reduce their regulatory burden by providing access to easily integrate attended, unattended and online payment solutions through a single API. The report details how payment orchestration can remove the need for multiple, siloed vendors and streamline the integration and management of multiple payment service providers by delivering:
- Access to the payment methods and alternative payment methods (APMs) customers are demanding.
- Connections to any acquirer, bank and processor to support a multi-acquirer strategy that drives better conversions, acceptance rates and redundancy.
- Multiple value-added solutions, including fraud prevention solutions.
- Optimized routing of payment transactions, through smart routing and least cost routing, helping to increase conversions.
As part of Complete Commerce – a full-stack, modern and secure payment and network capability – TNS can provide a cloud-native solution, integrating the various and constantly evolving payment solutions and providers into a single API layer and enabling an omnichannel experience for both consumer and business.
TNS is a global leader in providing online, unattended and attended payment terminals, security, and payment orchestration services but a transaction cannot be processed without connectivity. What makes TNS unique and reliable is that it does not use a third party for connectivity but instead transmits transactions via a secure core network designed and built by TNS for the payments industry.
To download the report in full and access all the insights, visit tnsi.com/unattended-payment-orchestration.
