Routing, the Ability to Dictate the Path of Your Transactions
With a strong foundation in place, a fighter can begin to develop ring generalship. This is the ability to manipulate space and timing to dictate the pace and direction of the bout.
Routing gives merchants the ability to direct transactions via their preferred provider to increase card acceptance rates while minimizing transaction costs. Different routing procedures can be specified based on geographic location.
Businesses can use routing to design their own strategy for each transaction by automating transaction flows. Payment routing saves costs by directing transaction flows based on the transaction fees of providers. It sets backups in place for provider failovers by fixing an order of providers. In addition, it spreads risk by dividing the amount of desired transaction traffic to be given to each provider.
With payment routing, merchants enjoy flexibility while using the most efficient path for customer transactions anywhere in the world.
Analytics, the Power of Data-Backed Decision Making
Great martial artists read patterns and react to them in milliseconds. This is seen when a fighter swings and misses an opponent who has anticipated his/her tendency to overreach. The result is a quick slip and a sharp counter punch from the opponent – data analysis in action.
Today E-Commerce companies are still struggling with customer experience. In order to optimize a customer’s payment experience, it is important to analyze and control each component of a payment setup.
Analytics is a POP functionality which allows a merchant to track payment performance and react to it in real time. It provides a personalized, holistic overview and KPI-based analytic dashboard applications to show all important payment data at a glance. Businesses can use this to filter through, search for and analyze all processed payment transactions.
The analytics functionality of a payment orchestration provider gives businesses freedom to make informed decisions on how to design their payment experience.
The POP Allows Merchants to Win in Payments Through Growth, Scaling and Refinement
To sum things up, boxers need to nail down their fundamentals, control the ring, read their opponents and put all the pieces together to perform effectively and reach their goal of victory.
Meanwhile the goals of a merchant are to accelerate growth, optimize payment experience for their end customers and lower operational expenditure. The POP facilitates this with an easy connection to global payments, the power to direct and optimize transaction flows, actionable payment data and one easy-to-use interface to access every payment capability.
For both boxing and payments, methodology and technique can be infinitely intricate. Yet, access to the right tools and simple application in both disciplines will allow fighters and merchants to beat their competitors to the punch.
Curious about payment orchestration? Speak with our team to learn more about the ins and outs of a POP.