Why Your Business Should Adopt a Multi-Acquirer Solution

The surge in demand for multi-acquirer solutions, particularly the rising prominence of payment orchestration in 2023, underscores the importance and relevance of adopting these strategies across industries. This article delves into the reasons why multi-acquirer approaches are fast becoming the norm in the payment landscape.

Strengthening Payment Infrastructure Resilience

For various challenging sectors, employing a multi-acquirer strategy has long been customary. The evolving preferences of acquirers necessitate merchants to mitigate risks by diversifying their provider base. Sectors like travel and events, previously less inclined towards this approach, now grapple with the repercussions of pandemic-induced shifts in banking risk policies. Business continuity also demands attention; banks are susceptible to downtimes caused by technical glitches, outages, or cyber threats. A system capable of rerouting transactions during such rare disruptions can be pivotal in ensuring uninterrupted payment capture.

Elevating Approval Ratios

In the realm of payment flow, securing optimal approval ratios holds immense significance. While a multi-acquirer strategy may not resolve hard declines due to invalid card details, it offers substantial benefits in addressing soft declines. These declines often can arise from risk or velocity parameters set by acquirers, this can be circumvented by cascading transactions through alternate acquirers. Augmented by features like 3DS and Auto Updater, this approach significantly enhances the chance of capturing genuine transactions, resulting in a seamless and efficient checkout experience your customers.

Optimising Pricing Flows

The varying pricing structures among different acquirers emphasise the importance of efficiently routing payments to leverage the most favourable fees. Strategically directing transactions through solutions with appealing fee structures maximises the return on each transaction.

Expanding Geographical Reach

Incorporating acquirers that offer supporting currencies, card types, and payment methods prevalent in target regions is pivotal for businesses eyeing a multi-region ecommerce strategy. Efficiently routing traffic to region-specific payment methods significantly boosts conversion rates.

Simplifying Integration and Technical Aspects

Integrating disparate payment solutions and acquirers can be a cumbersome process, often requiring intricate coding at the merchant’s expense. Opting for an agnostic payment gateway streamlines the implementation of a multi-acquirer strategy without the complexities of multiple technical integrations.

Multi-acquirer strategies have swiftly become the industry standard for growing businesses. The outlined reasons scratch the surface of why pursuing this direction is a worthwhile pursuit. Anticipate a continued drive towards payment orchestration solutions in 2024 as merchants seek to enhance checkout experiences, offering customers their preferred payment methods.

Leveraging a Multi-Acquirer Strategy with Axcess

Choosing the right payment provider is crucial when embracing multiple acquirers. Axcess Merchant Services boasts a 16-year track record in delivering such solutions, adept at navigating complex payment structures. Our suite of technical features ensures optimised payment processing for your business, coupled with expertise in aligning your business with the most suitable acquiring partners.

If exploring the benefits of a multi-acquirer strategy piques your interest, feel free to reach out to us.