Payment data may leave merchants locked in to their existing payment processors

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Even if merchants negotiate lower payment processing rates, migrating may still be costly if customer credentials remain under the control of their existing providers. A survey by PYMNTS Intelligence and Spreedly found that 93% of surveyed companies did not have full control over payment tokens and credentials; among companies with all five core orchestration capabilities, 78% saw transaction completion rates increase by at least 2%, though the study did not prove that credential control alone drove this increase. Spreedly launched an independent payment vault in July, saying credentials can be used with more than 100 payment service providers.