This morning, the VGS Team at Money 20/20 in Vegas officially launched VGS Payment Optimization to the market. The flagship feature of this suite of products is Payment Orchestration, which allows clients to integrate easily with - and then route transactions among - payment gateways and Payment Service Providers (PSPs). A single, low-code integration to the VGS platform lets you set custom routing logic to reduce costs and increase transaction throughput while aggregating and owning all your payments data.
Just a few years ago, integrations were done directly at the payment gateway; configuring a single partner platform was a chore. Today, many businesses still utilize direct integrations, unaware of the opportunities to swiftly move among different payment systems with the right partners.
With VGS Payment Orchestration, you only need to integrate once to put over 120 payments partners at your fingertips. The VGS Payment Orchestration dashboard then gives you the tools to route, block, or retry transactions based on any number of diverse scenarios and specifications.
This increased access to providers and easy-to-tune flexibility unlocks your ability to experiment with your payment flows quickly without having to build or change any of your technical infrastructure. Here’s just a handful of things you can accomplish with VGS Payment Orchestration:
- Low-cost routing based on card type, transaction size, partner pricing, or any other logic that routes to lower-cost providers
- High success routing to partners with higher success rates for risk-levels, specific MCCs, or cross-border transactions
- Attain breakpoints to gain access to partner-specific features, services, or lower price-points once a volume threshold is met
- Failover routing builds redundancies, so transactions are not impacted for an erroneous decline or during a down or unresponsive gateway
- KYC by maintaining control over your customers’ engagement for each payment transaction and throughout their entire payment journey
But what excites us most about launching VGS Payment Optimization, and VGS Payment Orchestration in particular, is working with our clients to discover new ways to use this tool to extract the most value out of their payment-driven business processes. While we have some good ideas for how to use VGS Payment Orchestration to achieve a number of goals and business objectives, there are many more that we will be discovering together with prospects and clients in the coming months and years.
One quick integration to VGS puts a world of payment capabilities at your fingertips, and there is a lot to explore there. Get in touch so we can talk about what VGS Payment Orchestration can do for your business and what opportunities we can unlock together.