Routing is one of the crucial elements of payment processing. Your conversion and approval rates directly depend on how you route your transactions. If you work with a single payment service provider, there’s not much you can do — every glitch or downtime of your provider will result in your losses. That’s why it’s reasonable to work with multiple providers, and this is where you need to route your payments in the wiser way possible.
This guide will explain the concepts of payment routing and cascading, the reasons and best practices for routing, and how to take the pain out of it.
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.
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Révéler les avantages du routage des paiements
Guide benefits:
Bien structuré et facile à naviguer
Les visualisations facilitent l'absorption
Des analogies digestes pour des concepts complexes
Rédigé dans un langage fin et simple
Concepts et meilleures pratiques expliqués
Indique comment acheminer les transactions sans tracas