A merchant can negotiate a better payment processing rate and still face an expensive move if its saved customer credentials are tied to its existing provider.

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That tension sits at the center of payment orchestration’s promise. The technology connects businesses to multiple payment providers and directs transactions among them, giving merchants more choices about who handles their payments. But connections alone don’t guarantee freedom to switch. Control over the information providers hold can determine how easily a business can act on a better offer.

Research from PYMNTS Intelligence and Spreedly showed how limited that control remains.

According to the July PYMNTS Data Book “The Orchestration Advantage: Why Five Payment Capabilities Separate Leaders From Laggards,” 93% of surveyed companies lack full control over payment tokens and credentials. Only 7% have full control. Most share it with payment service providers or depend on provider-managed credentials.

Tokens substitute for sensitive payment details, allowing businesses to process payments without exposing the underlying card information. For merchants with subscriptions or returning customers, those saved credentials help keep purchases moving.

Lacking full control doesn’t mean credentials cannot be transferred. It can, however, mean switching requires migration work, compliance reviews and technical integration. Having another processor available is like having a second delivery company ready while someone else controls access to the loading dock.

The study surveyed 110 companies in the United States with annual revenue of at least $10 million in March.

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