Navigating the Complex Web of Payment Orchestration with Kristian Gjerding of Cellpoint Digital
Oct 19, 2023
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Kristian Gjerding, CEO of CellPoint Digital, discusses payment orchestration in the airline industry, the rise of buy now pay later solutions, the popularity of mobile wallets like Apple Pay, and the importance of being payment provider-agnostic. Discover how payment orchestration optimizes payment operations and enhances the customer experience.
Payment orchestration helps airlines optimize their payment operations and enhance the customer experience by handling various payment types and offering new payment options.
AI offers significant opportunities in payment orchestration, improving efficiency through back-end automation but also raises concerns about fraud prevention and data privacy.
Deep dives
Payment Orchestration: Simplifying the Payments Chain
Payment orchestration is a centralized platform that allows merchants to control, deploy, optimize, operate, and report on their entire payment ecosystem. It manages the flow from B2C to B2B, starting from consumer transactions all the way to settlements with suppliers. Payment orchestration has been around since 2010 and has gained traction in the airline industry due to its complexity and need for efficient payment processing. The airline industry presents unique challenges with its high-volume transactions, diverse payment methods, and complex operational processes. Payment orchestration helps airlines handle various payment types, optimize efficiency, and ensure compliance with regulations. It also enables airlines to offer new payment options, such as buy now pay later, mobile wallets, and alternative payment methods. While AI brings benefits like automation and fraud prevention, concerns about data privacy and AI-generated content may lead to a pushback from consumers in the future. As technology evolves, payment orchestration aims to expand within the travel industry and enhance back-office automation while improving the customer experience by simplifying authentication and payment processes.
The Impact of AI on Payment Orchestration
AI offers significant opportunities in payment orchestration, allowing for back-end automation and improved efficiency. AI can enhance pricing models, optimize routing, and combat fraud. However, there is a potential downside as AI can be used for both prevention and perpetration of fraud. Additionally, the prevalence of AI-generated content may lead to a loss of credibility and increased concerns about data privacy. Consumers are becoming more cautious about sharing their data, which may require new solutions to navigate the changing landscape. Augmented reality and virtual reality have positive implications for the airline industry, enabling airlines to offer immersive experiences, showcase products like premium seats, and improve retail opportunities. While AI brings benefits, there is a need to address privacy concerns and find a balance between data utilization and consumer preferences.
Expanding within the Travel Industry and Focus on Customer Experience
CellPoint Digital's primary focus is within the travel industry, particularly airlines, leveraging its domain expertise and deep integration capabilities. The company aims to expand its presence within the travel vertical, partnering with traditional oil companies to explore collaborative opportunities. Over the next five years, the company seeks to deepen its capabilities in the financial supply chain, further automate back-office processes, and enhance the customer experience. Simplifying authentication and payment transactions for consumers is a crucial aspect of CellPoint Digital's future plans. The company aims to address the complexity and challenges associated with consumer engagement, providing seamless and secure payment experiences without compromising data security.
In this episode of PayPod, we explore the world of payment orchestration and its vital role in the complex airline industry. Joining us is Kristian Gjerding, CEO of CellPoint Digital, a leading payment orchestration company. We delve into the intricacies of payment orchestration, its significance in the airline sector, and the evolution of payment methods. Discover how the airline industry's unique complexities demand innovative solutions like payment orchestration.
Lessons You'll Learn:
During this episode, you'll gain insights into the challenges faced by airlines in managing their payment processes, the rise of buy now, pay later solutions, the growing popularity of mobile wallets, and the importance of being payment provider-agnostic. Understand how payment orchestration helps airlines optimize their payment operations and enhance the customer experience.
About Our Guest:
Kristian Gjerding, CEO of CellPoint Digital, has extensive experience in the world of payments and technology. With a focus on payment orchestration, Kristian brings a wealth of knowledge about the evolving payment landscape and its impact on the airline industry.
Topics Covered:
In our conversation with Kristian Gjerding, we explore the unique complexities of the airline industry's payment landscape, the significance of buy now, pay later solutions for travelers, the growth of mobile payment methods like Apple Pay, and the importance of being adaptable and payment provider-agnostic. Kristian also shares valuable insights into the evolving trends in payment methods, including the use of credit cards and alternative forms of payment in the airline sector.