4 Questions You Should be Asking a Payments Orchestration Partner
A payments orchestration partner helps merchants enhance the customer experience, lower costs, remove complexities, and scale efficiently. As merchants seek to expand and enable new payment types, they may find themselves with a complicated and pieced-together collection of processing software and systems. Payments orchestration simplifies and streamlines payment processing by unifying various systems, including reconciliation, settlements, and reporting, under one flexible and efficient solution.
From encryption to adding integrations to additional service providers, when selecting a payments orchestration partner, merchants need one that offers tailored solutions that are flexible to handle the changing payment environment of the future. The right payments orchestration should allow merchants to seize growth opportunities and prepare for the future while still delivering exceptional customer experiences now. Discover four questions you should be asking your payments orchestration partner.
What is essential for a payments orchestration partner to provide?
The right technology is vital for merchants to maintain a competitive advantage. A payments orchestration partner should provide three essential elements: enhanced payment system security, enhanced payment solutions, and point-of-sale transactions.
1. Can you work with multiple forms of encryption?
The OLS Enhanced Payment Solution allows merchants to implement the encryption technology you need for your business where you need it. OLS offers merchants the flexibility to implement various encryption technologies for their business, including point-to-point encryption (P2PE), end-to-end encryption (E2EE), validated P2PE, and critical management/encryption translation.
OLS knows encryption is a “must-have” technology in any data environment, especially in the payments industry. With the E2EE encryption method, the PAN and SAD are encrypted at the point of interaction (POI) with the payment instrument. The merchant acquirer or back-end processor owns and controls the encryption process (and any related tokenization).
2. How can you help us reduce or eliminate cardholder data from our systems?
By using unique identifiers to store payment data, tokenization is a powerful and flexible technology designed to protect and prevent cardholder data from residing in a merchant’s payment system, thereby enhancing security. Tokenization makes it virtually impossible to gain access to the original data. Tokens can be transaction-based meaning they are valid for the life of the transaction or card-based, where they are connected with a specific PAN (payment card number) and can be used for e-commerce card-on-file, mobile wallet, loyalty, or other transactions.
With a security-first mindset, OLS Payments gives merchants access to the most recent tokenization and encryption security updates. These security features not only protect customer information but also reduce PCI scope and provide relief from breach notification.
3. Can you add new integrations to additional service providers we may need to connect with?
The list of new emerging and alternative payment options seems to grow monthly. In addition, merchants often want to be able to work with the payments-related service providers (loyalty, fraud management, chargebacks, data analysis, and more) that make the most sense for their particular business. But, can your payments orchestration partner add these integrations when “you” need them or are they beholden to a roadmap of additions that could take a year or more to onboard?
Powerful, flexible, and configurable, the OLS Enhanced Payments Solution is an omnichannel payments solution that can integrate your eCommerce, mobile, and in-store footprints while harmonizing that data with your multiple new and existing processors and third-party service providers. Our flexible solution has the power to add integrations to all kinds of service providers, such as fraud management, data analytics, loyalty program providers, and third-party delivery. It is unlikely that a retailer will find a POS or payment type that OLS cannot support. This kind of flexibility and extensibility allows merchants to reach a wider variety of consumers and enhance the transaction process while often reducing friction in the customer experience.
4. Do you offer offline processing solutions that are customizable?
The growing complexity of the payments environment has consequently led to an increase in potential failure points along the transaction flow. This has increased the need for solutions that provide offline processing capability. OLS can work with merchants to strengthen and mitigate offline issues through stand-in processing, store and forward, and intelligent routing of transactions to redundant service providers or processors. These offline processing solutions allow merchants to continue completing transactions even when one or more points along the process flow are unavailable.
Best-in-Class Payments Orchestration Partner
When merchants are looking at a payments orchestration partner, they need one that has delivered solutions that address some of the largest global retailers’ most complex electronic processing challenges. OLS Payments is a payments orchestration partner for some of America’s most well-known Fortune 100 and Fortune 500 companies. With over 25 years of experience in payment orchestration and card data security, our expertise is unmatched in the industry. Learn how OLS Payments can help you with a tailored solution that provides access to the latest payments capabilities and helps your business prepare for the future.
- Merchants should be asking their payments orchestration partner these questions about encryption, security, new integrations, and offline processing solutions.
- The proper payments orchestration should allow merchants to seize growth opportunities and prepare for the future.
- A payments orchestration partner should provide three essential elements: enhanced payment system security, reduced complexity, and reduced costs of overall payments acceptance.
- With over 25 years of experience in payment orchestration and card data security, OLS Payments provides merchants with unmatched expertise in the industry.