Intelligent Dynamic Payment Routing

The interruption of payment processing causes declined transactions, checkout abandonment, and a decrease in customer retention. A multi-acquirer setup provides a seamless service that protects your revenue stream by integrating, through just one API, to multiple payment service providers and acquirers. If one service provider is unavailable (e.g. for technical reasons), you can automatically switch to another.

Enterprise merchants with single access to multiple payment integrations to acquirers, psps, gateway etc. can increase payment acceptance rates and lower their processing fees.

A multi-acquirer set-up is best practice for both regional and global merchants. It provides flexibility, independence, and protects payment flows from unexpected outages or other surprises.

A successful eCommerce needs uninterrupted processing of payment transactions. Integrating with multiple payment service providers protects payments. If one of the individual service providers is unavailable (e.g. for technical reasons), you can seamlessly switch to an alternative provider.

A Smart Routing Engine optimizes the interplay between multiple payment service providers and payment methods. Payment Routing increases acceptance rates by routing transactions to the most appropriate acquirer, based on geo-location, risk assessment, and platform specific data. It calculates the best possible route across banks and MIDs, configuring rules in real time to track results and adapt possible scenarios depending on client needs.

A payment stack should provide the opportunity to connect to payment methods and payment services providers (PSPs) in multiple countries. To benefit from these connections, payments must be routed to the most appropriate psp and or acquirer. With a Smart Routing Engine, different flow strategies can be implemented for payments based on a set of personalised rules, increasing conversions while simultaneously cutting costs per transaction. 

Criteria that you can select for making payment routing decisions are card data, customer data, geolocation, risk assessment, and platform or application-specific data. Configure rules that enter into effect immediately via an easy, Drag & Drop graphic interface.

1.Transaction Load Balancer: Split and Distribute Payment Volume

Use the IXOPAY Smart Routing Engine to distribute payment volume across your PSPs. Load balancing–when you automatically switch transactions between various payment providers–  ensures that the highest performing providers handle the essential parts of your transactions and helps mitigate risk for high-risk merchants. It also stops you from exceeding contractual volumes. Directly compare multiple solutions and use them in parallel.

2. Cascading

Set up cascaded transaction processing to protect the payment flow in the event of technical problems such as an outage, commercial disputes, or other business challenge. If the transaction failed with the first payment service provider, the IXOPAY Smart Routing Engine automatically forwards it to an alternative service provider and so on. This increases the chance of the transaction successfully completing.

4. Risk-based Routing

Use risk the classification of an individual transaction to determine the ideal routing. Improve authorization rates and send transactions to the most relevant providers. Check risk scores based on rules and push transactions to the most appropriate providers, in order to improve chances of authorization. Catch fraudulent transactions and lower fraud rates with transaction risk analysis, which not only checks risk scores but also other account risk factors in order to confirm that no abnormal spending or behavioral patterns of the payer are identified to reduce payment fraud.

5. Transaction Fallback 

The technical availability of your payment service provider is mission-critical, particularly when batch processing transactions (e.g. for recurring services). The payment fallback routing occurs when a transaction cannot be completed in case of failed request (including false positives or payment provider outage/unavailability).

Fallback routing automatically retries transactions in case of errors such as failures, false positive declines, and system errors. It sends the transaction to a secondary payment service provider if the primary one is unavailable. This ensures that transactions are processed, bottlenecks are reduced and your bottom line is protected.

With false positives, instead of aborting the payment process, fallback rules can be set up to ensure business continuity by using a transaction retry. False positives occur when a user attempts to perform a legitimate transaction that is incorrectly classified as fraudulent.

With the IXOPAY routing engine, users benefit from smooth 3DSv2 implementation and full strong customer authentication support, enabling the uninterrupted processing of payments. IXOPAY’s flexibility and connectivity ensures that the best fees and conversion rates are met. To get the full benefits of payment routing and to provide a seamless user, payment data should be stored in IXOPAY’s independent PCI vault, allowing for a seamless customer experience. To protect your payment set up and grow your business, get in touch with our sales team for a platform demo today.