Transaction Routing

Transaction routing can help protect payments, reduce processing fees, and improve authorization rates. The IXOPAY routing engine is flexible and intuitive and has features such as:

  • Load balancing
  • Cascaded transactions
  • Geographical optimization
  • Risk based routing
  • Fallback routing

Transactions are routed on conditions set by the user. For example, if a card payment is made and the issuing bank is based in Sweden, the merchants could set up rules that would enable the transaction to be processed by a payment service provider that is backed by an acquirers based in Sweden, or one that is geographically close to Sweden. This improves the chances of it being accepted and also reduces processing fees.

There are multiple benefits to transaction routing:

- Increased authorization rates

- lower processing fees

- real time insights

- reduces risk of provider overload

- facilitates cross border ecommerce

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 payment orchestration platform optimizes the interplay between multiple payment service providers and payment methods. Transaction 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.