Merchant Risk Council Las Vegas 2023
Greg Toussaint (Director, Paris) took part in the Merchant Risk Council conference on 6-9 March 2023 in Las Vegas. Greg presented the key outcomes of the white paper on Payment Orchestration that Edgar, Dunn & Company (EDC) wrote for payment provider Nuvei and moderated a panel discussion with Corey Murphy, Head of Consumer Transactions at CarTrawler and Carl Miller, SVP Sales, North America at Nuvei.
The white paper to be published next month is based on in-depth interviews with merchants, an online survey among 100+ international merchants and EDC’s expertise. Greg highlighted payment orchestration allows merchants to achieve three key objectives:
1) Revenue acceleration: payment orchestration enables merchants to increase conversion rates with smart routing capabilities, accept a wider range of payment methods and leverage insights from payment-related data to increase acceptance or decrease fraud;
2) Cost reduction: payment orchestration provides merchants with more flexibility to use different payment providers (e.g. acquirers, payment gateways) and optimise the cost of payment acceptance by leveraging smart routing capabilities;
3) Internal efficiency: as payments become increasingly complex, payment orchestration allows merchants to benefit from increased internal efficiency with more comprehensive reporting, better data insights and stronger reconciliation.
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