Latest news with #paymentorchestration
Forbes
13-06-2025
- Business
- Forbes
Omnichannel Payment Orchestration—Why It's Important To Get It Right
Andrew Riabchuk is the Founder and CTO of Akurateco, a white-label payment gateway platform driving innovation in fintech. getty The efficiency of managing all payments—online, in-store, mobile and even the Internet of Things—in a single, intelligent, connected system is a reassurance every business is looking for when seeking a solution. Omnichannel payment orchestration is the key to this efficiency. It seamlessly integrates card-present (CP) and card-not-present (CNP) transactions into a single, unified platform, eliminating the need for multiple vendors or systems. For merchants, this means more innovative transaction routing, fewer failed payments, faster reconciliation and a seamless checkout experience wherever customers pay. This system also enables businesses to optimize approval rates, reduce transaction fees, increase operational transparency and make reporting and synchronization of the customer experience easier. In this article, I'd like to discuss omnichannel and its benefits for businesses. The increased demand for omnichannel orchestration stems from the stream as businesses expand their presence both online and offline. Businesses no longer need the dance of different systems to facilitate electronic commerce and physical stores. Collecting payment across all channels enables merchants to optimize approval rates, reduce transaction fees, increase operational transparency and make reporting and synchronization of the customer experience easier. Payment orchestration platforms sit in between the merchant and multiple acquiring banks, payment service providers (PSPs) and alternative payment methods (APMs), directing transactions dynamically to the best-suited provider based on parameters like success rate, fee, geolocation or card type and centralizing processing of Card-Present (POS, mobile POS) and Card-Not-Present (web, app, subscription) transactions and providing aggregated reporting and fraud management functionality. Technically, omnichannel orchestration integrates both legacy and modern payment protocols: • ISO 8583 (used in traditional POS terminals) • Protocols like ISO 20022 and NEXO for cloud-native, API-driven, real-time processing Over the last 20 years, card-present transactions have undergone significant technological advancements. We've moved from printed receipts to magnetic stripes, EMV chips and now NFC contactless payments, wallets and phone wallets. This evolution has changed not only the way we pay but also the way businesses process these payments. • From printed receipts to magnetic stripes, EMV chips and now NFC contactless payments, wallets and phone wallets. • Technology has evolved from massive dial-up POS terminals to smart, portable, programmable terminals and SoftPOS programs that run directly on smartphones. • Today, cloud-based payment devices communicate securely via APIs, enabling remote updates, multi-acquirer routing, tokenization and custom payment applications tailored to industries such as retail, hospitality and mobility. • Leading vendors now offer programmable, modular terminals that work seamlessly in multichannel payment organization ecosystems, integrating card-present, card-not-present and alternative payment methods into a single, adaptable infrastructure. • This shift enables organizations to offer faster, more flexible and information-rich personal payment options with centrally managed and enhanced account security through certified PCI PTS-equipped and point-to-point (P2PE) encryption. Emphasizing the potential for growth and future competitiveness, sophisticated AI-based payment orchestration platforms are revolutionizing transaction management by analyzing real-time patterns to direct payments dynamically based on success likelihood, optimize fee structures, instantaneously detect and neutralize fraud risks and forecast demand and acquiring partner capacity for improved planning. Juniper Research projects these platforms to process over $2.5 trillion in global transactions by 2027, testifying to their growing influence within the fintech landscape. However, this evolution brings with it significant challenges: • Technical Complexity: Integrating different protocols, devices, acquirers and APIs into a single orchestration layer • Legacy Compatibility: Combining legacy ISO 8583 infrastructures with modern ISO 20022 or NEXO standards • Compliance And Security: Meeting strict PCI DSS, GDPR and Strong Customer Authentication (SCA) requirements • Operational Costs: Managing multi-country acquiring relationships, currency conversion fees, tax reporting and reconciliation processes While AI improves efficiency, risk management and cost control, orchestrating these systems requires deep technical expertise and robust infrastructure to ensure seamless, secure and compliant global payments. AI-driven orchestration is no longer a trend but a business challenge for a company operating across multiple channels and countries. The transition for companies that are already implementing intelligent orchestration gives them a competitive advantage in a market worth more than $10 trillion. It prepares their infrastructure for the future convergence of offline and online payments. Omnichannel payment orchestration is, therefore, the glue that holds online, in-store, mobile and IoT transactions together in a single intelligent system. When done correctly, companies can eliminate fragmented systems, enhance transaction routing, minimize failure rates, accelerate reconciliation speed and provide a frictionless and consistent payment experience across all touchpoints by having card-present and card-not-present payments linked to a single, integrated platform. As the demands of modern commerce intensify, adopting an omnichannel orchestration mindset isn't just a benefit—it's becoming a business necessity that should be taken seriously Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Zawya
26-05-2025
- Business
- Zawya
PayTabs Group achieves fintech dominance with its' Saudi built, AI-powered payment orchestration platform
Riyadh, Saudi Arabia: PayTabs Group, a Future 100 company and MENA's award-winning payment orchestration powerhouse, today announced the launch of its enhanced Artificial Intelligence (AI) powered payment orchestration platform. Engineered in Saudi Arabia over four months, the platform is set to cross SAR 325 billion in transaction processing shortly, cementing its role as a key driver of financial inclusion and innovation in the region. PayTabs' AI-powered payment orchestration platform marks a strategic alignment with Saudi Arabia's bold vision for global AI leadership. The recent US-Saudi AI investment collaboration highlights the Kingdom's commitment to positioning itself as a hub for AI-driven innovation, and PayTabs is setting the standard for AI adoption in financial technology across the region. PayTabs also launched the AI Payment Acceptance Booster project to minimize transaction declines and initiated a Data Warehouse project to deliver real-time financial insights and risk management as a service. A standout innovation of PayTabs custom built, AI orchestration layer, is the PayTabs Moderator Platform, designed exclusively for banks, financial institutions and large-scale corporations to help drive their efficiency. This transformative orchestration layer delivers unified control over the payment ecosystem through plug-and-play APIs, and secure local hosting in Saudi, ensuring unmatched efficiency, visibility, and compliance for the financial sector and other vital industries that drive the region's economy. PayTabs AI powered approach has made it the go-to partner for financial institutions looking to leverage AI to scale efficiently. In alignment with the Kingdom's strides in AI, including the recent launch of PIF-backed Humain, PayTabs has successfully empowered financial institutions and large corporates in North African markets like Morocco, GCC markets like United Arab Emirates and CIS countries like Azerbaijan. These institutions benefit from PayTabs scalable, AI-powered, Saudi built payment infrastructure, delivering smarter payment solutions, with technology that's easily scalable across emerging markets, positioning Saudi-built payment intelligence as a global value proposition. Abdulaziz Al Jouf, CEO & Founder of PayTabs Group, commented from Riyadh: ' The launch of our Saudi built, AI-powered payment orchestration platform represents a bold step forward, not just for PayTabs but for Saudi Arabia's vision of AI leadership. With scalable AI-powered infrastructure, PayTabs is poised to deliver Saudi technology across emerging markets, equipping businesses and financial institutions with the agility to compete globally. ' Since July 2024, PayTabs Group has been accelerating its journey to become an AI-enabled company, identifying and deploying AI across its product suite, regional operations, and internal processes. In Q1, the Group finalized a comprehensive AI strategy, launched an AI-driven CRM, integrated AI-powered customer support across key products, and introduced automated KYC/KYB onboarding. From fraud prevention and marketing to transaction monitoring and AI sales agents, AI is being embedded into nearly every function, reshaping how we operate across the group. This transformation is designed to boost internal efficiency and performance, while enabling scalable growth across PayTabs markets. As AI becomes integral to daily operations, teams are adapting, engineering is focused on AI-driven workflows, and support is evolving toward customer success and upselling. All departments are undergoing structured change management. PayTabs sees this transformation as part of a broader regional shift toward AI-first operations. By July 2025, PayTabs plans to expand its AI-powered services to over a million clients, fostering business growth in the digital economy. With IPO readiness and strategic expansion on the horizon, PayTabs is building a future-proof fintech enterprise for the AI era. About PayTabs PayTabs is a payments infrastructure company providing exceptional solutions that are simple, secure, and scalable to drive local commerce and power financial inclusion across the region. It was founded by Saudi entrepreneur Abdulaziz Al Jouf in 2014, with a vision to power every digital transaction in the region. Today PayTabs processes transactions in multiple currencies and markets, swiftly and securely. By providing the infrastructure for B2B payment solutions, including digital invoicing for businesses, QR code, social media payments, point of sale and switching platforms, PayTabs facilitates seamless e-commerce and social commerce solutions for merchants, super merchants, and governments. For over a decade, PayTabs has custom built and exported a full stack of game changing solutions. These include mobile applications, hospitality, governmental, education, airline, travel, transport, and biller solutions, to interlink the multi-billion-dollar enterprise market chain in the region. In 2021, PayTabs launched PT Touch, (MEPS FAST in Jordan) the first soft POS solution in the MENA market to transform smart phones into merchant point of sale terminals. In 2022, PayTabs made a leapfrog move by launching its home owned, globally validated unified payments and orchestration platform. PayTabs unified payment processing orchestration enables governments and large-scale originations to become independent payment platforms to serve their industries. In 2022, the company acquired social commerce platform Paymes to complement its existing retail portfolio. In early 2023, PayTabs received payment gateway certification from Saudi Payments and was later awarded MENA's Best Merchant Solution and the glowing recognition of Fintech Company of the year. In October 2024, PayTabs became the first in Arab World to be recognized as a top 100 Global Fintech Company, delivering payment technology designed and built in Saudi Arabia to the global fintech arena. PayTabs has dedicated offices in KSA and UAE and presence in other locales including Jordan, and Egypt. The company is an equal opportunities employer. More milestones on
