O:52:"Joomla\Component\Finder\Administrator\Indexer\Result":19:{i:0;i:1;i:1;s:5:"en-GB";i:2;s:385:" Payment routing is the path a transaction takes after a customer makes a purchase. From the moment a payment is accepted, it flows through several different components before it can be processed, such as acquirers, issuers, and payment providers. More recently, businesses are choosing to migrate towards more dynamic payment routing options as opposed to traditional static routing. ";i:3;a:28:{s:2:"id";i:98;s:5:"alias";s:53:"understanding payment routing unravelling the concept";s:7:"summary";s:392:"<p>Payment routing is the path a transaction takes after a customer makes a purchase. From the moment a payment is accepted, it flows through several different components before it can be processed, such as acquirers, issuers, and payment providers. More recently, businesses are choosing to migrate towards more dynamic payment routing options as opposed to traditional static routing.</p>
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<p>Here at Axcess Merchant Services, our team are on-hand to provide helpful guidance and more importantly, powerful technologies to ensure a seamless payment journey that’s exactly right for you.</p>
<p><strong>Dynamic payment routing vs static payment routing</strong><br />Static payment routing is the traditional routing method. It is a manually configured system, pre-determined for the customer, with routing regulations set in stone. These routes are generally simple to set up and have higher levels of security. By relying on preconfigured routes, and requiring all reconfiguration to happen manually, static routing can be an energy-efficient and secure payment routing option. Static payment routing is generally acceptable for small businesses only.</p>
<p>On the other hand, dynamic routing ensures multiple available routes to the destination, using algorithms to find the best payment path, which helps maximise speed and efficiency. Even better, if one path fails, the technology allows the payment to reroute to another, reducing the number of declines and payment failures. By utilising dynamic payment routing, this gives you control over your payments, reduces failed transactions, and ultimately helps you save money. Dynamic payment routing is essential for businesses working with multiple payment providers and ensures a flawless, straightforward payment process.</p>
<p><strong>Which routing option is best for my business?</strong><br />Although static payment routing has higher levels of security and more simplistic technology, they cannot be altered, redirected or optimised, resulting in a higher likelihood of payment failure. This can be acceptable for smaller businesses, but overall can put your business at a disadvantage when more complex payment systems come into play. Dynamic routing, however, helps conversion and success rates by ensuring payments are sent through the best and most cost-effective route, which also speeds up the process and approves transactions quicker. This also eliminates issues from payment providers and ensures your customers have the best, most seamless experience.</p>
<p>Payment routing is an essential technology for every business, no matter the size. From static to dynamic, our helpful team is always on hand to guide you to success. If you’re interested in finding out more about payment routing, get in touch today</p>";s:6:"images";s:581:"{"image_intro":"images\/Blog Images\/Understanding Payment Routing_ Unravelling the Concept.png#joomlaImage:\/\/local-images\/Blog Images\/Understanding Payment Routing_ Unravelling the Concept.png?width=5184&height=2592","image_intro_alt":"","float_intro":"","image_intro_caption":"","image_fulltext":"images\/Blog Images\/Understanding Payment Routing_ Unravelling the Concept.png#joomlaImage:\/\/local-images\/Blog Images\/Understanding Payment Routing_ Unravelling the Concept.png?width=5184&height=2592","image_fulltext_alt":"","float_fulltext":"","image_fulltext_caption":""}";s:5:"catid";i:19;s:10:"created_by";i:259;s:16:"created_by_alias";s:0:"";s:8:"modified";s:19:"2024-03-18 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