Spreedly: Importance Of Health And Safety (Along With Payments Flexibility And Optimization)

“Payments orchestration provides the solution to integrate easily with the many gateways and PSPs being brought to the table by their customers,” said Justin Benson, CEO of Spreedly, in “A Look Forward: What Executives Wish for America and the World in 2021.” Read his insights on how payments orchestration will help to optimize payments in 2021. 

While there have certainly been shifts in how organizations operate in 2020, our customers have continued to require the flexibility and optimization that payments orchestration brings to their digital payments. These needs have only increased as we’ve all moved so much of our lives online. The $3 trillion eCommerce market is growing faster than ever in the wake of the pandemic. Our customers are merchants and platforms that operate across many industry verticals, including order ahead and food delivery, eCommerce and digital entertainment, which have grown and expanded significantly in our post-COVID world.

Allowing our customers to adapt and grow under these market conditions is core to our mission of supporting an open payments ecosystem. As these organizations move to capture business online, securely accepting payments from customers and providing a great customer experience is a massive challenge. Merchants are forced to pivot their business model quickly as they struggle to accept payments the way their business requires. We’re able to help solve this challenge by injecting flexibility into digital payments through our payments orchestration technology. We expect to continue to see fast-growing organizations driving the adoption of payments orchestration.

Platform organizations, for example, have leaned heavily into Spreedly in solving real business problems for so many merchant customers (and, in turn, their customers). Payments orchestration provides the solution to integrate easily with the many gateways and PSPs being brought to the table by their customers. This allows the platforms to onboard new customers and deliver value quickly while also freeing up resources to focus on their core business needs.

In 2021, we also expect to see continued growth in the strategic side of payments orchestration, mainly in the optimization of payments. Intelligent routing of transactions and provider-agnostic network tokens are giving merchants the ability to shift payments from a cost of doing business to a true value-add. More importantly, these organizations are seeing real returns in the form of additional revenue as a result. Overall, the biggest thing we hope to see in 2021 is that everyone stays healthy and safe.