#USA #Limassol #Payment Orchestration #Praxis Tech #AI Smart Routing

Praxis Tech Unveils AI Smart Routing for Enhanced Payment Success

Praxis Tech, a frontrunner in the Payment Orchestration industry, has recently introduced a groundbreaking feature called AI Smart Routing. This innovative tool empowers merchants to significantly improve their payment success rates, ensuring that transactions are more likely to be approved on the first attempt.

The core functionality of AI Smart Routing lies in its ability to analyze payment patterns across various Payment Service Providers (PSPs). By leveraging this analysis, it offers strategic recommendations on how merchants can optimize their transaction routing. Traditionally, businesses would set up specific sequences to process payments through multiple providers, thereby safeguarding against transaction failures. However, this method can prove costly and inefficient as merchants incur fees for each transaction attempt.

With AI Smart Routing, Praxis Tech introduces a more intelligent approach to payment processing. It studies the performance metrics of different PSPs and suggests enhancements to the order in which transactions should be attempted based on the success rate specific to each merchant. For instance, if a certain provider consistently approves payments for a merchant, that provider can be prioritized in the transaction sequence to maximize the likelihood of initial approval.

Guy Karsenti, Chief Technology Officer and Managing Partner at Praxis Tech, expresses the company's commitment to innovation, stating, "AI Smart Routing exemplifies our dedication to delivering cutting-edge technology that enhances payment outcomes for merchants. By intelligently analyzing transaction patterns, we empower businesses to achieve higher first-time approvals and measurable performance improvements."

This smart routing feature operates in real-time, relying on live transaction data to provide immediate optimization suggestions to business owners. Merchants can then implement these recommendations, adjusting their card payment routing rules, and closely monitoring performance through new analytical tools. This capability not only streamlines transaction processing but also reduces costs associated with sending the same payment across several providers.

As a company, Praxis Tech continually strives to integrate advanced technology solutions that assist merchants in achieving better payment results and higher success rates. The launch of AI Smart Routing reflects this ongoing initiative, as Praxis Tech continues to embed sophisticated AI capabilities into its product offerings, thus providing merchants with greater paths for optimization.

About Praxis Tech

Praxis Tech is known for its robust Payment Orchestration Platform which optimizes payment infrastructures for global enterprise merchants. The platform offers seamless access to over 600 pre-integrated PSPs, multiple payment methods, and comprehensive multicurrency support. Additionally, the company provides vital services such as PCI DSS tokenization, integrated fraud and risk management solutions with Visa’s Cybersource, and advanced checkout enhancements to increase approval rates via smart routing and decline recovery tools.

The introduction of AI Smart Routing marks another significant step in Praxis Tech's mission to revolutionize the payment landscape for merchants around the globe, providing them with intelligent, efficient tools for managing their transactions.