Praxis Tech, a Payment Orchestration company, has recently introduced AI Smart Routing. This feature aims to enhance the payment success rates for merchants.

About Praxis Tech

Praxis Tech offers a global Payment Orchestration Platform designed for enterprise merchants. The platform supports over 600 pre-integrated PSPs, diverse payment methods, and multicurrency operations. Additionally, it provides services such as PCI DSS tokenisation, integrated fraud management with Visa’s Cybersource, and advanced checkout optimisations.

AI Smart Routing: How It Works

AI Smart Routing assesses the performance of multiple Payment Service Providers (PSPs) and suggests optimal routing strategies to increase first-time approval rates for each merchant. Traditionally, businesses implement sequences to reroute payments through different processors as a preventive measure against transaction failures. However, AI Smart Routing dynamically analyses this data and proposes changes in the order of provider priorities based on real-time performance.

Merchants can leverage these recommendations to fine-tune their payment routing rules and benefit from enhanced analytical tools for continuous monitoring. This feature helps reduce costs by minimising redundant attempts across multiple providers.

Praxis Tech’s Commitment to Advanced Technologies

The launch of AI Smart Routing underscores Praxis Tech’s dedication to developing innovative solutions that enhance payment outcomes and success rates. By integrating sophisticated AI capabilities into its offerings, the company aims to provide merchants with more comprehensive optimisation opportunities.