Praxis Tech, a leading Payment Orchestration company, has introduced AI Smart Routing, a new feature designed to enhance payment success rates for merchants. By leveraging artificial intelligence to analyze transaction patterns, this tool optimizes payment routing to increase first-time approvals, helping businesses reduce costs and improve efficiency.
Praxis Tech launches AI Smart Routing to improve payment success rates.
AI analyzes PSP performance to optimize transaction routing.
Increases first-time payment approvals, reducing merchant costs.
Offers real-time suggestions for adjusting payment routing rules.
Includes analytical tools to track performance improvements.
Supports merchants across various industries with AI-driven solutions.
Praxis Tech’s AI Smart Routing marks a significant advancement in payment orchestration technology. The feature analyzes the performance of Payment Service Providers (PSPs) to recommend optimized routing sequences tailored to each merchant’s unique transaction patterns. This ensures payments are processed by the most effective provider first, boosting approval rates and streamlining operations.
The tool studies live transaction data to identify which PSPs perform best for a merchant’s specific needs. "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," said Guy Karsenti, Chief Technology Officer and Managing Partner at Praxis Tech. Merchants can authorize changes to their routing rules based on these AI-driven recommendations and monitor results through new analytical tools.
By prioritizing the most effective PSPs, AI Smart Routing reduces the need for multiple transaction attempts, lowering costs for merchants charged per attempt. This efficiency not only improves financial outcomes but also enhances the customer experience by minimizing payment failures. The feature is particularly valuable for businesses handling high transaction volumes across industries.
Praxis Tech’s launch of AI Smart Routing underscores its dedication to integrating advanced AI capabilities into its product suite. The company continues to develop sophisticated solutions that empower merchants to achieve consistent payment success. This feature aligns with Praxis Tech’s broader strategy of leveraging AI to drive innovation in payment orchestration, offering merchants greater control and optimization opportunities.
Praxis Tech’s AI Smart Routing sets a new standard for payment optimization, enabling merchants to achieve higher approval rates and cost savings. By combining real-time data analysis with actionable insights, the feature positions Praxis Tech as a leader in delivering AI-driven payment solutions for businesses worldwide.
Praxis Tech offers a leading Payment Orchestration Platform that optimizes payment infrastructure for globally operating enterprise merchants, providing instant access to 600+ pre-integrated PSPs, worldwide payment methods, and multicurrency support. Its services include PCI DSS tokenization, fraud and risk management solutions integrated with Visa's Cybersource, and checkout enhancements designed to increase approval ratios through advanced routing rules and decline recovery tools.
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