The Paypers x Aevi: In-Person Payment Orchestration
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- 2 Minute Read
- Last updated 25/07/2024
At Money20/20 in Amsterdam, The Paypers talked to Alex Benjamin, our Head of Business Development (US) at Aevi, about the importance of payments orchestration.
He offers valuable insights, and highlights the benefits of having a unified solution, specifically around the value this brings to the entire payments value chain.
Transcript Highlights
Mirela Ciobanu: In-person payments orchestration is an important topic here at Money20/20. Hello, everyone. I'm Mirela Ciobanu, lead editor with The Paypers, and I'm here to explore this topic with Alex Benjamin, Head of Business Development at Aevi.
Alex Benjamin: Payments orchestration is the ability to simplify the complex nature of payments under a single platform. This means routing to multiple acquirers, offering choice and flexibility from a payment option perspective, and providing faster access to markets in a complex world.
Stitching together the online world is easier than dealing with offline processes due to physical hardware in in-person payments. It requires consolidating the entire value chain, including software management, payment management, and the payment gateway, all under one solution to avoid fragmentation. In the offline world, hardware introduces contingencies that limit flexibility, creating a binary approach to orchestration. With Aevi, we eliminate this complexity by managing the entire value chain with our end-to-end platform.
Today, many clients and merchants still handle a broad spectrum of tasks and solve short-term problems with temporary solutions. However, stakeholders desire choice, flexibility, and continuity without starting anew each time they consider a new option. Therefore, offering ultimate flexibility with a single product that evolves alongside a merchant's estate or a PSP's estate is crucial.
Mirela Ciobanu: What are other benefits associated with Aevi's in-person payment orchestration platform for businesses and consumers?
Alex Benjamin: Most importantly, you'll reduce operational overhead. Orchestration allows a single platform to manage multiple endpoints and acquirers, streamlining operations and ensuring a consistent customer experience across all channels. Without orchestration, managing an in-person platform involves silos, separate software updates, and individual relationships with acquirers and alternative payment options. Aevi's platform ensures consistency and standardization across markets, hardware providers, and user experiences through a unified solution.
