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What is Carat Payment?

Published in Payment Orchestration Platform 3 mins read

Carat payment refers to the comprehensive suite of payment orchestration and commerce solutions provided by Carat, a global commerce platform developed by Fiserv. It is not a distinct payment method itself, but rather the underlying technology and service that enables businesses to manage and process various payment types and create seamless customer experiences on a large scale.

Understanding Carat Payment

Carat is designed to help the world's largest businesses take control of their commerce operations. It acts as a central hub that orchestrates the entire payment lifecycle, from initial transaction to settlement, while also integrating with other aspects of the customer journey.

  • Global Reach: Carat operates as a global platform, supporting businesses with international operations and diverse customer bases.
  • Orchestration: Its core function is to "orchestrate" payments and experiences. This means it manages complex payment flows, integrates with multiple payment processors and methods, and ensures a smooth, unified experience for both merchants and their customers.
  • Target Audience: The platform is specifically tailored for enterprise-level organizations, evident by its strong market presence, being trusted by a significant percentage of the world's leading brands.

Key Aspects of Carat Payment Solutions

The Carat platform by Fiserv offers robust capabilities that empower large businesses to enhance their payment processing and overall customer interactions.

Core Capabilities

Aspect Description
Provider Fiserv
Platform Type Global Commerce Platform
Primary Function Orchestrates diverse payments and customer experiences
Target Market World's largest businesses and leading brands
Technology Focus Scalable technology for enhanced commerce control
Customer Impact Enables creation and realization of new, innovative customer experiences

Benefits for Businesses

Carat payment solutions provide several strategic advantages for large enterprises:

  • Enhanced Control: Businesses gain greater command over their entire commerce ecosystem, from payment processing to customer interactions.
  • Scalability: The technology is built to scale, accommodating high transaction volumes and growing business needs without compromising performance.
  • Improved Customer Experiences: By orchestrating payments and experiences, Carat helps businesses design and implement innovative customer journeys, leading to higher satisfaction and loyalty. This can involve:
    • Seamless checkout processes across various channels (online, in-store, mobile).
    • Flexible payment options to cater to diverse customer preferences.
    • Personalized interactions based on payment history and customer data.
  • Streamlined Operations: Centralizing payment management reduces complexity, streamlines operations, and potentially lowers operational costs.
  • Global Readiness: For businesses operating internationally, Carat offers the infrastructure to handle cross-border payments and diverse regulatory requirements.

By leveraging Carat, businesses can manage a wide array of payment methods, optimize fraud prevention, and gain deeper insights into their payment data, all contributing to more efficient and customer-centric commerce operations.

To learn more about the platform, you can visit the official Carat U.S. website.