Payment Orchestration Platform Market Overview by Rising Demands, Leading Company Analysis and Scope 2021 to 2031 | CellPoint Digital, IXOLIT Group, Payoneer Inc., APEXX Fintech Ltd.

The global Payment Orchestration Platform Market was valued at USD 1.1 Billion in 2022 and it is anticipated to grow up to USD 10.1 Billion by 2032, at a CAGR of 24.5% during the forecast period.

Payment orchestration platforms provide a way for businesses to automate their payment processing. By using a payment orchestration platform, businesses can streamline their payment processing by automating tasks such as invoicing, payments, and reconciliations. This can save businesses time and money by reducing the need for manual processing of payments. In addition, payment orchestration platforms can provide businesses with visibility into their payment processing, helping to identify issues and optimize performance.

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Market Trends and Drivers

The growing prevalence of e-commerce platforms is driving the industry during the forecast period as e-commerce vendors are adopting Payment Orchestration Platforms (POPs) to ensure consumer security and payment integrity. Moreover, the increasing penetration of smartphones and the internet contributes significantly to the market's development. The growing utilization of smartphones for online transactions through digital payment platforms is expected to propel industry growth.

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Payment orchestration platforms are assisting vendors in fast-tracking Buy Now Pay Later (BNPL) payments. As a result, the increasing popularity of the BNPL platform among vendors worldwide is one of the key factors fueling the market expansion. POPs help consumers by offering convenience and flexibility to pay for merchant services. Merchants are equally keen about the adoption of BNPL as this point-of-sale credit helps them with higher customer conversion rates by lifting average ticket sales. Hence, payment orchestration providers allow businesses to deploy the BNPL platform without many technological developments.

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Global Payment Orchestration Platform Market Segmentation

By Type

B2B
B2C
C2C

By Application

BFSI
E-commerce
Healthcare
Travel & Hospitality
Others

By Functionalities

Cross Border Transactions
Risk Management
Advanced Analytics & Reporting

Major Players in the Global Payment Orchestration Platform Market

The key players in the Payment Orchestration Platform Market CellPoint Digital, IXOLIT Group, Payoneer Inc., APEXX Fintech Ltd., Rebilly, Spreedly, Modo Payments, Akurateco, BNT Soft, and aye4fin GmbH. among others.

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