Announcing: Intelligent Payment Routing For Credit Card Transaction Processing

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We’re excited to announce our latest feature:

Intelligent Payment Routing For Credit Card Transaction Processing

Metricsco releases a new Intelligent Payment Routing feature that lets merchants route transactions to the best acquiring bank to ensure maximum payment success.
In doing so, global merchants can accept shoppers from anywhere and increase their percentage of approved transactions.
With Metricsco’s Intelligent Payment Routing, merchants can configure their own rules to decide on the best acquiring bank and MID (Merchant Identification Number) to process each of their credit card transactions.

What is Intelligent Routing? And why is it so important for global merchants

When customers are attempting to make a credit card purchase, one of the most frustrating aspects they face is being declined after having spent time and effort completing the purchase process. As the transaction is in the last step of the checkout process, it is important to be able to process the order and secure the sale.

SaaS and Subscription-based companies are also in need to process recurring payments. As the decline of such payment may lead to the termination of the subscription, it is crucial to ensure such payments declines are retried successfully with different acquiring banks.

Intelligent Payment Routing is therefore the action of routing a payment transaction to the the acquiring bank that is most likely to approve a transaction.

How It Works

Metricsco lets you configure an Intelligent Payment Routing Strategy based on multiple sale parameters including: currency, country, language, type of product, MCC code, Credit Card BIN (Bank Identification Number), pricing plans, and more. In fact, any parameter that is part of the transaction can be used to impact the routing decision.

But unlike other solutions, Metricsco also lets you configure what we call “Buckets” which represent your acquiring options as far as: Acquiring Banks, MIDs, MCC Codes, Currencies, and other acquiring factors.

How It Works

Routing Rules

Metricsco lets you configure Intelligent Payment Routing Rules based on multiple sale parameters including: currency, country, language, type of product, MCC code, Credit Card BIN (Bank Identification Number), pricing plans, and more. In fact, any parameter that is part of the transaction can be used to impact the routing decision.

Routing Buckets

Metricsco also lets you configure what we call “Buckets” which represent your acquiring options as far as: Acquiring Banks, MIDs, MCC Codes, Currencies, and other acquiring factors.
With Buckets, you can automate payment routing using multiple load balancing models: Round Robing, Fail-over, Split, and Cascading.

When Buckets get Full

Each Bucket can have a cap that limits the number of transaction or the total amount that is allowed to be processed in the bucket for a given period. Metricsco tracks the activity in your buckets, and once they get full – automatically routes transactions to the next available bucket.
Metricsco can also track the Chargebacks ratio in each bucket – when a certain bucket reaches the allowable chargebacks ratio, Metricsco will automatically close the bucket until the beginning of the next period.

Integrations & API

Use our Portal to easily configure your intelligent Payment Routing Strategy and then connect to your payment processor via one of our out-of-the-box Connectors. You can also use our API to send us data and manage your Routing Strategy.

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