Praxis Tech, a leading Payment Orchestration company, today announced AI Smart Routing, a new feature that helps merchants improve their payment success rates. The tool analyzes how different Payment Service Providers (PSPs) perform and suggests simple changes to boost first-time approvals based on each merchant’s acceptance rates across their providers.
Most businesses set up specific sequences to send the same payment through multiple processors to guard against transaction failures. If the first provider can’t process it, the payment gets sent to alternative providers in turn to maximize approval chances. AI Smart Routing studies this performance data and recommends changes to the priority order of which provider should go first, second, and so on, based on which ones actually approve the most payments for each merchant’s specific situation.
Guy Karsenti, Chief Technology Officer and Managing Partner at Praxis Tech, said:
“AI Smart Routing shows our focus on delivering innovative technology that drives better payment outcomes for merchants. By analyzing transaction patterns intelligently, we enable businesses to achieve higher first-time approvals while delivering measurable performance improvements.”
The feature responds to live transaction data and shares optimization suggestions with merchants, who can then choose to authorize changes to their card payment routing rules while tracking performance using new analytical tools. By reducing the need to send the same payment across multiple providers, it lowers costs for merchants whose processors charge for each attempt.
AI Smart Routing demonstrates Praxis Tech’s focus on building advanced technology solutions to help businesses achieve consistently better payment results and higher success rates. The launch reflects the company’s ongoing approach of engineering sophisticated AI capabilities into more products and features, offering merchants even greater optimization opportunities.
Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!
