In the dynamic landscape of online payments, optimizing payment processing is paramount for businesses seeking efficiency and cost-effectiveness. Dynamic Routing emerges as a transformative solution for businesses handling multiple payment gateways, streamlining payments by intelligently directing them to the most suitable acquiring bank or payment gateway in real-time. 

This not only elevates success rates but also mitigates failed transactions, presenting businesses with a powerful tool to navigate the complexities of modern payment ecosystems.

Unlocking the Power of Intelligent Routing

Unlike traditional methods of relying on a singular primary and backup gateway, Intelligent Routing empowers businesses to set up rules that dynamically allocate transactions through multiple gateways based on Razorpay’s proprietary AI/ML models. 

Smart Routing: Effortless Optimization for Payments Success

For businesses integrated with Razorpay, Smart Routing introduces a seamless approach to maximize success rates and net revenue. Smart Router automates the direction of payments to service providers with a higher probability of success, eliminating the need for manual configuration. This feature, available in live mode for all user roles, presents businesses with a hassle-free approach to optimizing their payment processing strategies.

Priority-based Routing: Ensuring Optimal Performance

To further optimize routing decisions in the digital realm, Priority-based Routing becomes a strategic tool. Assigning priority levels to gateways and utilizing an AI-ML algorithm to monitor traffic continuously ensures seamless payment processing. In the face of gateway issues, automatic routing to the next gateway in line guarantees uninterrupted transactions for business operations.

Rule-based Routing: Tailoring Solutions for Unique Requirements

Recognizing that standard routing may not meet the diverse needs of every transaction, Rule-based Routing steps in. Custom rules based on parameters such as payment method, bank, card networks, and more allow businesses to tailor their payment processing strategies precisely, simply by adding the rule description.

Smart Routing: Effortless Optimization

For businesses integrated with Razorpay, Smart Routing introduces a seamless approach to maximize success rates and net revenue. Smart Router automates the direction of payments to service providers with a higher probability of success, eliminating the need for manual configuration. This feature, available in live mode for all user roles, presents businesses with a hassle-free approach to optimizing their payment processing strategies.

Functionalities that support granular routing requirements

Leveraging Supported Payment Parameters

Businesses can harness a comprehensive range of payment parameters to fine-tune their routing decisions. From channels (Website, Android, iOS) to payment methods (Card, Netbanking, UPI), BIN numbers, card types, card brands, card issuers, banks, and transaction amounts, these parameters provide granular control, catering to the nuanced requirements of online transactions.

Custom Identifiers: Adding Personalization to Routing

Beyond standard parameters, businesses can integrate custom identifiers to route payments based on unique business logic. Whether it’s customer or product information, custom identifiers enable businesses to create rules tailored to specific their unique online payment needs, adding an extra layer of personalization to the routing process.

Conclusion

Intelligent Routing emerges as a pivotal tool for online businesses seeking to elevate success rates, reduce transaction failures, and optimize costs in their payment processes. Whether through rule-based customization, priority-based decisions, or smart routing, businesses now have a suite of options to tailor their payment processing strategies to their unique needs.