Payment transaction success is crucial to businesses in this day and age when most transactions are going digital. A failed transaction can lead to lower payments success, customer dissatisfaction, and even reputational damage. To ensure fail-proof transactions, Razorpay Optimizer deploys the most-advanced data models in its smart routing capability, to push transactions to maximum success.
The workings of AI/ML models behind Optimizer
Optimizer uses AI/ML algorithms to analyze real-time payment data and route transactions to the most optimal payment gateways. Leveraging the wealth of Razorpay payment data, our Tree-Based ML models tirelessly work around the clock to achieve the highest Success Rates (SR) on transactions. Smart Router, which is a brainchild of our robust payments data is supported today across 100+ payment providers, across all payment methods.
Smart Router eliminates the need for you to manually configure rules and enables you to optimize your success rate and net revenue effortlessly.
You can integrate with Razorpay and use Smart Router to maximize your success rate and net revenue. Smart Router can be used for all cards and UPI payments via Routing as a Service (RAAS), to route traffic based on a rule, or to enable Smart Router only if payment fails via the preferred payment provider.
What are the benefits of AI/ML Routing?
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- Enhanced fraud prevention: AI/ML routing can help identify and block fraudulent transactions in real time. This is because AI/ML routing systems can analyze a wider range of data points than traditional fraud detection systems.
- Reduced costs: AI/ML routing can help reduce costs by routing transactions to the most cost-effective payment processors and acquirers. This is because AI/ML routing systems can take into account factors such as transaction fees, downtimes, traffic, etc.
- Increased speed: AI/ML routing can help speed up transaction processing by routing transactions to the fastest payment processors and acquirers. This is because AI/ML routing systems can take into account factors such as network congestion and processor capacity.
- Personalized Payment Experience: It personalizes payment options based on a customer’s history and preferences, including methods, currency conversion, and timing, boosting satisfaction and loyalty.
Infinite possibilities with Optimizer
Optimizer, India’s First AI-Powered Payments Infinity Router is fueled by years of Razorpay’s rich, extensive payments data. With ML-driven decision-making based on over 150 parameters, businesses can experience an increase in Success Rates (SR) of up to 10%. This improvement is achieved by analyzing over 600 million payment data points for each routing decision. This unique capability significantly enhances the efficiency of the decision-making process, a marked contrast to decade-old payment routers that rely on limited data and have intelligence limited to specific business categories. Our deep expertise in payments processing enables us to continuously refine our AI/ML models, ensuring that they remain at the forefront of the industry.
Are you looking to get the best success rates with multiple payment gateways/aggregators?
