What is payment routing?
Payment routing is an essential payment processing feature for businesses working with multiple payment providers. It allows sending each transaction to the optimal payment gateway based on selected parameters, like card issuer (country, bank, INN/BIN), type, brand; auth mode (CVV/3DS); store; location; amount; currency, etc.
The main aim of routing is to send the transaction to the provider where it is most likely to be settled quickly and successfully.
With payment routing, a business can reach its processing goals:
- transaction costs optimisation
- acceptance rates increase
- provider downtimes protection
- payment load distribution.