Merchants today have a variety of options for accepting online payments. Many basic payment gateway solutions provide a simple means of accepting popular global payment methods like major credit cards, Google and Apple Pay, or PayPal.
The situation becomes more complicated for merchants who wish to sell across borders. When it comes to accepting local credit cards, bank account transfers, and other alternative payment methods, merchants opting for a simple approach are at the mercy of the options provided by the chosen payment gateway. Often, companies seeking to sell in multiple geographies must either offer only globally available payment methods, or work with multiple payment gateway providers in order to process local payments in each location.
At the same time, businesses with a fragmented global payment infrastructure run the risk of compromising on payment security and experiencing higher rates of payment rejection – leading to reduced conversions and lost revenue.
Known as payment orchestration, the alternative to fragmented global payments is a single solution which unifies all of the different payment layers while at the same time providing opportunities for easy optimization and scaling (for example adding new geographies or payment methods) as well as centralizing essential aspects of security and regulatory compliance under one platform.
In addition to offering merchants a single point of entry to global payments, the PayU Hub functions as a comprehensive payment orchestration layer that supports multiple aspects of payment optimization and security.