Glossary
List of commonly used terms and their definitions related to Optimizer.
The following table lists all the commonly used terms and their definitions used in Optimizer:
| Terms | Description |
|---|---|
| Optimizer | A Razorpay product that routes payments through multiple payment providers with a single integration, optimising transaction costs and success rates. |
| Real-time Optimisation | The process of proactively routing transactions to the best available gateway or acquirer based on real-time data. |
| Acquirer | A financial institution or bank that processes credit or debit card payments on behalf of a business. |
| Gateway Priority | A configuration in the Optimizer that determines the order in which payment gateways are used for processing transactions. |
| Payment Gateway (PG) | A service that authorises and processes payments for online transactions, acting as an intermediary between the business and the financial institution. |
| Smart Routing | A feature of Optimizer that intelligently routes transactions to the most appropriate gateway based on performance data and predefined rules. |
| Integration Audit Tool | A tool designed to automatically identify and address issues with payment provider integrations before they go live. |
| Priority-based Routing | A routing feature that assigns an order of priority to payment gateways, allowing transactions to be rerouted based on gateway performance. |
| Rule-based Routing | A routing feature where custom rules are defined based on various payment parameters, such as payment method, bank, and card networks. |
| Standard/Default Routing | A simple routing method that prioritises gateways for all transactions based on predefined rules. |
| Payment Aggregator (PA) | A service provider that processes payments on behalf of businesses by aggregating transactions from various payment methods. |
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