How platforms can leverage Payments Orchestration to create smoother payments for their sub-merchants
For merchant aggregators, attracting merchants to your platform is essential for success. Platforms have built their business to appeal to specific merchant segments, but there is a universal driver of acquisition and satisfaction across sectors: smooth payments.
The J.D. Power 2023 U.S. Merchant Services Satisfaction Study reveals that technical issues have become a “plague” for retail merchants and customers, with just 47% of card-not-present transactions completed without some sort of additional assistance required.
With almost half of all e-commerce transactions being completed without assistance, it is clear that payments can be a source of tremendous inconvenience and frustration for merchants.
Despite this, the shift toward digital payments is only increasing — meaning merchants need even more sophisticated payment capabilities to handle the influx of diverse cashless payments. According to PwC’s Payments 2025 & Beyond report, the global cashless payment volume is predicted to increase by more than 80% from 2020 to 2025.
Merchant aggregators are responsible for finding ways to smooth the payment process for their merchants to not only ensure their customers are satisfied, but that the merchants themselves see the true value of remaining loyal to their platform.
Accomplishing this comes down to finding the right way to optimise payments for your merchants — and highlighting the payment capabilities to the merchants you hope to attract.
Payments present a variety of challenges to merchants, especially if those merchants do not have the right technology partnerships in place to supply them with the resources and expertise needed to operate a modern, efficient payment system.
To name just a handful of the payment pain points merchants face, we have:
As a merchant aggregator, one of your primary selling points to merchants should be handling these payment headaches for your merchant clients — yet, you can only do so if you have the right pillars in place on your platform.
Improving payments for your merchants requires greater focus on your platform’s payment capabilities.
Gone are the days when simply accepting credit and debit card payments was enough — today’s merchants need access to a wide range of payment methods and services to meet customer expectations.
Let’s look at the necessary features a merchant aggregator’s platform needs to attract more merchants:
Knowing which payment features impress merchants is great — but this is only the beginning of the story.
To enable such features on your platform, you must either build a resilient payment ecosystem in-house or, alternatively, look for and integrate the right technology-based solutions for enhancing your payment stack.
Want to know more about what to look for in a payment solution for your platform? Check out our article on The 5 Key Capabilities for a Marketplace Payment Processing System.
To establish a reliable payment ecosystem on your platform, payment orchestration is a powerful solution.
Through payment orchestration, you can streamline your platform’s payment infrastructure into an easy-to-use interface for merchant clients that makes it simple to add new payment methods, services, and other key connections.
Even better, you as the platform provider can alleviate the burden of compliance from not just your merchants, but from your own team’s responsibilities as well. Payment orchestration solutions are designed to handle all the most technical aspects of payments for you and your merchants.
Here are three vital benefits of payment orchestration that help create smoother payments:
At Spreedly, our payment orchestration solution offers all of the above benefits and more, going above and beyond to provide merchant aggregator platforms with the payment support they need.
By connecting to our payment orchestration API, your platform can not only boost merchant attraction but also simplify onboarding, minimize the risk of your payment infrastructure, and reduce the hassle of maintaining B2B relationships with payment service providers and financial institutions.
Get in touch with Spreedly today to begin enhancing your platform’s payment ecosystem for merchants.