Information Technology
Praxis Tech Launches AI Smart Routing to Boost Payment Success Rates
Most businesses set up specific sequences to send the same payment through multiple processors to guard against transaction failures. If the first provider can't process it, the payment gets sent to alternative providers in turn to maximize approval chances. AI Smart Routing studies this performance data and recommends changes to the priority order of which provider should go first, second, and so on, based on which ones actually approve the most payments for each merchant's specific situation.
The feature responds to live transaction data and shares optimization suggestions with merchants, who can then choose to authorize changes to their card payment routing rules while tracking performance using new analytical tools. By reducing the need to send the same payment across multiple providers, it lowers costs for merchants whose processors charge for each attempt.
AI Smart Routing demonstrates Praxis Tech's focus on building advanced technology solutions to help businesses achieve consistently better payment results and higher success rates. The launch reflects the company's ongoing approach of engineering sophisticated AI capabilities into more products and features, offering merchants even greater optimization opportunities.
Praxis Tech offers a leading Payment Orchestration Platform that optimizes payment infrastructure for globally operating enterprise merchants, providing instant access to 600+ pre-integrated PSPs, worldwide payment methods, and multicurrency support. Its services include PCI DSS tokenization, fraud and risk management solutions integrated with Visa's Cybersource, and checkout enhancements designed to increase approval ratios through advanced routing rules and decline recovery tools.
Logo - https://mma.prnewswire.com/media/2578890/Praxis_Tech_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/praxis-tech-launches-ai-smart-routing-to-boost-payment-success-rates-302509807.html