Explorer the route
PayCore.io routing engine determines the best possible route across providers and accounts to optimise all incoming and outgoing transactions in real-time settings. PayCore.io allows your back office staff to configure and change the transaction flows without specific technical knowledge.
As an illustration of the wider use of routing scenarios and their combinations, let's explore features that will help you to benefit from the smart routing features.
Smart rule engine to offer benefits
You can benefit from almost endless routing possibilities by creating a payment or payout scheme that permits you to specify your own criteria. There are many standard options including, but not limited to, geolocation, a payment or payout amount, account balance, dates and times, transaction fees, availability, response times, gateway performance, and etc. Besides, you can set custom criteria such as a number of games played within a week or the route of the last successful transaction. The routing engine can execute an arbitrary sequence of steps defined in the routing schemes with adhered exchange rates scheme.
Stay relevant in the changing world
To stay relevant to a changing business environment, PayCore.io offers a high degree of flexibility and agility by allowing modifying a payment flow without the need for IT intervention. It has inbuilt features that allow you to create interactive workflows of any complexity based on your business model in a snap. A non-IT staff can easily create, modify and manage payment flows right from the Dashboard with no coding required.
PayCore.io can dynamically determine the optimal route based on an inherent transaction fee value. It can help to optimize all transactions and ensure lower transaction fees by orchestrating cashflows across payment providers and acquiring banks. Likewise, adding two more attributes of payment request currency and payee geographic location allows for a transformation of all payments into local transactions, eliminating cross-border and currency conversion fees for international transactions.
Since PayCore.io allows you to work multiple payment gateways simultaneously or over time, it collects statistics on gateway-through transactions and dynamically calculates success rates by every payment route. The collected data enables you to follow the conversion optimisation strategy by setting the attribute of the success rate in the routing scheme. It is worth mentioning that a large enough pool of transactional data is essentially needed to start following this strategy by a particular route.
Dynamic settlement account allocation
by a balance
Allocation rules are used to automatically allocate your incoming transactions to the correct merchant account. When a payment or payout request comes into PayCore.io, it will be checked against the rules, and automatically allocated to a single account which meets the account balance criteria. Of course, you can always override or edit the rule and combine with other attributes such as geographic location, transaction amount, etc. Connecting a new or temporarily disabling a merchant account and setting up routing rules only take a few clicks.
Dynamic settlement account allocation by weightings
PayCore.io automatically allocates incoming or outgoing transactions to a single account which meets allocation weightings criteria and allows non-programmers to add or change business logic, giving your business more flexibility in operations. Moreover, with multiple merchant accounts, you not only can distribute turnover among two or more accounts, but the same is true for risks. Whether they result from chargebacks, services downtimes, or associated with legal issues, your customers can enjoy a faultless experience from start to finish.
Cascading & prioritisation
Payment service providers typically have daily and monthly limits for both local and international payment orders or a transaction can be declined by any other reason. If any limit is reached, the transaction will be allocated to an alternative merchant account selected in the same manner in case of multiple routing criteria. In an account prioritisation strategy, a payout is made from a primary merchant account defined by the rule. If a primary account has insufficient funds to cover a transaction than a payout will be executed from a secondary merchant account, and so on sequentially until it will be executed or suspended. You can set up the priority for accounts in the routing scheme.
PayCore.io automatically checks all available payment methods for every payment provider and connected merchant accounts and maps all the available payment routes in every settlement currency. Routing in PayCore.io encompasses the idea of failover, which is critical to your conversion rate. When a transaction is initiated, PayCore.io instantly finds the best route to complete the transaction. In the case of failure, a payment or payout request can be retried and forwarded to an alternative route taking into account multiple criteria including payment provider availability and response times.