payment orchestration

Payment orchestration is the process of managing and coordinating multiple payment methods and routes within a business to optimize how transactions are processed. It involves selecting the best payment gateway, method, or network for each transaction based on factors like cost, speed, and success rates. This ensures customers can pay smoothly, while businesses reduce costs, improve success rates, and enhance the overall payment experience. Essentially, payment orchestration acts as a smart control system that directs and manages payments efficiently across various providers and channels.