The Importance of Dynamic Payment Routing Dynamic payment routing is a key feature in multi-provider setups, giving businesses far more control over their payments. This feature allows businesses to customize their payment flows, implement flexible load distribution, and lower transaction costs. By using dynamic payment routing, merchants can optimize their payment processing goals, increase acceptance rates, and protect against provider downtime.
Interruptions to payment processing can result in declined transactions, checkout abandonment, and a decrease in customer retention. A multi-acquirer setup provides a seamless service that protects a business’s revenue stream by integrating multiple payment service providers and acquirers via a single API. This way, if one service provider is unavailable (e.g. for technical reasons), the business can automatically switch to another.
Larger merchants with access to multiple payment integrations to banks, acquirers, PSPs… 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 as it provides flexibility, independence, and protects payment flows from unexpected outages or other surprises.
For eCommerce merchants, uninterrupted processing of payment transactions is crucial. Integrating with multiple acquirers protects payments. If one of the individual acquirers or PSP-s is unavailable (e.g. for technical reasons), the merchant can seamlessly switch to an alternative provider, ensuring that the business’s revenue stream is not impacted.
Our Smart Routing Engine optimizes the payment rutes 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 or any other argument the merchant may find usefull. By using routing technology, merchants can optimize their payment paths between multiple payment providers and increase conversions while simultaneously cutting costs per transaction.
With our Smart Routing Engine, different flow strategies can be implemented for payments based on a set of personalized rules. Criteria that merchants can select for making payment routing decisions include card data, customer data, geolocation, risk assessment, and platform or application-specific data. These rules can be configured via an easy, drag-and-drop graphical interface, entering into effect immediately.
When connected to multiple acquirers and payment service providers, payment routing can help protect payments, reduce processing fees, and improve authorization rates. The AllSecure routing engine is flexible and intuitive, and it has features such as load balancing, cascaded transactions, geographical optimization, risk-based routing, and fallback routing.
AllSecure’s payment routing engine can help businesses reach their payment processing goals, optimize transaction costs, increase acceptance rates, protect against provider downtime, and distribute payment load. The routing engine is flexible and intuitive, and it has features such as load balancing, cascaded transactions, geographical optimization, risk-based routing, and fallback routing.
Load balancing is a feature that helps to distribute payments across Acquirers. This helps to reduce decline rates and fees and also improves authorization rates. By using load balancing, businesses can ensure that their payments are distributed evenly and efficiently across multiple providers.
Fallback routing is a feature that helps businesses handle errors and outages. This feature ensures that payments are protected, processing fees are reduced and authorization rates are improved. Fallback routing allows businesses to automatically switch to an alternative provider in case of an outage or error, ensuring that their revenue stream is not impacted. Fallback routing is an essential feature that ensures that businesses can continue processing payments seamlessly, even in the event of an unexpected interruption.
In conclusion, payment routing is an essential feature for any business that wants to optimize its payment processing and protect its revenue stream. The AllSecure routing engine is a powerful tool that helps businesses increase acceptance rates, reduce transaction costs, and protect against provider downtime. With features like load balancing, cascaded transactions, geographical optimization, risk-based routing, and fallback routing, businesses can ensure that their payments are processed efficiently and effectively. By using AllSecure’s routing engine, businesses can take control of their payments and achieve their payment processing goals.
Established in 2001. AllSecure became a global Payment Service Provider dedicated to providing tailor-made online payment solutions that solve issues and suite the requirements of its clients.
Our PCI DSS Level 1 payment gateway processes in multiple market and currencies through single platform in a smart and cost-effective way. The aim is to optimize the clients’ payment solutions using the best gateway technologies, world class acquires along with our in-depth payment knowledge and professional services.
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