Payment Orchestration (Modulr is one)
Payment orchestration platforms manage the end-to-end flow of payment processing across multiple providers, payment types and geographies. They optimise routing, manage retries, handle fraud prevention tools, and reconcile transactions. Modulr serves as a payment orchestrator by offering API-based access to multiple payment methods and reconciliation services.
Applications
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
E-commerce:
Reduces fraud in online card payments by verifying the cardholder's identity
Advantages
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
- Enhanced security: Reduces unauthorised transactions by verifying that the genuine account holder is authorising the payment
Challenges
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
- User Experience: Additional authentication steps can cause friction and increase checkout abandonment
