Monetize Forum Online 2021: Panel Discussion
During Monetize Forum 2021 online, IXOPAY’s Vice President of Sales and Business Development, Adam Vissing, took part on January 21, 2021, in a panel discussion on payment orchestration. He was joined by experts from Optile, Spreedly, Magnius, and WL Payments. It was chaired by Matthijs Koorn of MGI Research. The aim of the panel discussion was to define what payment orchestration is and its place within the world of eCommerce.
All participants agreed that payment orchestration – in its purest form – is a payment agnostic technological layer that pushes transactions to payment service providers and acquirers based on an algorithm and provides reconciliation and settlement services. The payment orchestration platform should have no financial interest in the actual processing of the payment.
The participants also spoke of the perfect storm that was 2020, and why more and more companies are moving towards payment orchestration. From exponential growth of online shopping to the stark warning of Wirecard’s bankruptcy. Because of this increased demand, the experts noted that businesses that had once used an in-house solution were now looking for external providers as they were to keep up and wanted the optimization offered through payment orchestration. There was also an interesting discussion on why different types of businesses use payment orchestration, and it was clear that there is no standard entity, which is why IXOPAY does not over a standard solution but a tailored payment set up.
Watch the panel discussion to find out why your company should switch to payment orchestration.
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IXOPAY is a payments orchestration platform enabling independent, flexible and global payment processing. As a highly scalable and PCI-DSS certified “fintech enabler”, IXOPAY fulfills the needs of large merchants as well as those of “white label” clients: payment service providers (PSPs), acquirers and independent sales organizations (ISOs). The modern, easily extendable architecture offers smart transaction routing & cascading, state-of-the-art risk & fraud management, fully automated reconciliation and settlements processing, comprehensive reporting as well as plugin-based integration of acquirers, payment service providers and alternative payment methods (APMs).
IXOPAY is part of the IXOLIT Group, founded in Vienna, Austria in 2001. With local entities in Austria and the USA, IXOLIT supports national and international customers across various industry verticals. The owner-led and -financed company has grown from 2 to more than 65 employees and is focused on building innovative solutions for eCommerce.
Please find more information about IXOPAY here: https://www.ixopay.com