In multi-provider settings, dynamic payment routing is a crucial component that gives businesses far more control over their payments. This functionality enables companies to reduce transaction costs, create flexible load distribution, and tailor their payment flows. Merchants may achieve their payment processing objectives, raise acceptance rates, and protect against provider outages by employing dynamic payment routing.
Payment processing hiccups can lead to declined transactions, abandoned checkouts, and a drop in client retention. By integrating many acquirers and payment service providers through a single API, a multi-acquirer configuration provides a seamless solution that safeguards a business’s income stream. This enables the merchant to seamlessly shift to a different service provider in the event that one is not available (for instance, due to technical issues).
Larger merchants can boost payment acceptance rates and decrease processing costs if they have access to various payment integrations with banks, acquirers, PSPs, etc. For both local and international merchants, a multi-acquirer setup is recommended because it offers flexibility, independence, and protection for payment flows from unforeseen outages or other surprises..
The uninterrupted processing of payment transactions is vital for online merchants. Payments are protected by integrating with multiple acquirers. The merchant can seamlessly transition to an alternate provider in the event that one of the individual acquirers or PSPs is not accessible (for example, due to technical issues), ensuring that the company’s revenue stream is unaffected.
The payment routes between various payment service providers and payment methods are optimized by our Smart Routing Engine. By sending transactions to the most suitable acquirer based on geolocation, risk assessment, platform-specific data, or any other justification the merchant may find helpful, payment routing improves acceptance rates. By utilizing routing technology, businesses can enhance conversion rates and lower transaction costs per transaction while also optimizing their payment channels across various payment providers.
Different payment flow strategies can be built using our Smart Routing Engine depending on a set of specific rules. Card data, customer data, geolocation, risk assessment, and platform or application-specific data are just a few of the factors that merchants can choose from when deciding how to route payments. These rules can be easily set up and they take effect right away.
Payment routing can protect payments, save processing costs, and boost authorisation rates when linked to several acquirers and payment service providers. With functions like load balancing, cascaded transactions, geographical optimization, risk-based routing, and fallback routing, the AllSecure routing engine is flexible and simple to use.
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.
A feature called fallback routing helps organizations in managing errors and outages. This feature guarantees payment security, lower processing costs, and higher authorisation rates. In the event of an outage or problem, fallback routing enables organizations to quickly move to a different provider, preserving their income stream. Fallback routing is a crucial component that guarantees that organizations can carry on seamlessly processing payments even in the case of an unplanned 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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