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True Layer Teams With Worldline on Payments Orchestration

Open banking payments network TrueLayer is offering its products via Worldline’s payment orchestration platform.

Beginning Wednesday (Jan. 31), Worldline Payment Orchestration merchants can enable TrueLayer’s payment products including Payments, Payouts and Signup+ in the U.K. and across Europe, TrueLayer said in a news release provided to PYMNTS.

“This means that thousands of merchants and their customers will be able to benefit from faster, more secure experiences across from making deposits, to receiving payouts and onboarding new users,” said TrueLayer Vice President of Financial Services and Partnerships Mariko Beising.

“We know that clunky, slow sign up processes are among the biggest factors which put off potential players and which lead to lost revenues in iGaming. By combining sign up and payment into a single, smooth process, Signup+ transforms the onboarding process,” Beising added. 

Worldline Payment Orchestration is a software-as-a-service (SaaS) platform that lets merchants centrally manage and optimize payment flows. With intelligent routing and reporting automation, it allows customers to orchestrate a scalable payment strategy with a single API. 

“Orchestration remains a hot topic in the payments world,” Nathan Salisbury, managing director of Worldline Payment Orchestration, told PYMNTS in an interview last fall.

As that report noted, merchants are continually defining and fine-tuning their payments strategies, meaning that the complexities of multiple provider relationships in each market can become difficult to navigate.

Salisbury told PYMNTS that as eCommerce has evolved over the past two decades, companies have “built out” their connections to payments providers individually and have handled fund flows, building software to control the logic of those transactions.

“But what we’ve seen over the last few years is a real explosion of payment methods globally,” he said, which adds complexity as merchants work to offer payment methods their users want. 

As merchants have embraced eCommerce and omnichannel offerings, they have also embraced more payment acceptance methods, Salisbury added, which means spending more to maintain a variety of resources.

Salisbury also noted that payments orchestration can help prevent fraud by deploying tokenization and other options to protect stakeholders in a transaction.

With Worldline’s orchestration offerings, “we’ve seen a number of cases of very large merchants who want to test certain markets — whether in Africa or in the Middle East or in parts of South America — [and they] have been able to set up a new provider, go live and test it within the rule sets that they’ve created within our software within two or three days,” he said.