Dynamic Routing

What is Dynamic Routing?

flowWise's Dynamic Routing has revolutionised payment processes for businesses by seamlessly directing transactions to the most optimal acquiring bank or payment gateway in real-time. flowWise’s Dynamic Routing uses the most advanced ML algorithm to select the best performing gateway using multiple real-time parameters to give merchants the highest success rates for payments.
This innovative approach enhances success rates, minimizes transaction failures, and significantly reduces costs.

Dynamic Routing has its own brain, and can predict the best performing gateway in real-time, learn from past performances to ensure businesses get the highest success rates possible.

Unlike traditional methods relying on a single primary gateway, businesses can now establish rules to intelligently distribute transactions across multiple gateways based on their individual performance.

Types of Dynamic Routing Supported on flowWise:

  1. Smart Routing:
    When you select Smart Routing as the type of Dynamic Routing for your payments, flowWise will do all the heavy-lifting for your payments. Using our ML algorithm, we arrive at the best-suited gateway between the gateways that you define for a particular rule.
    The primary parameter flowWise takes into account while routing transactions is the Success Rates for all your gateways for that payment menthod (say UPI) in the given time frame (last 15 mins, last 30 mins etc.)
    For eg. Let's assume you want to route UPI transactions through PayU and Cashfree, and want to get the highest performing gateway each time you get a UPI payment request.
    In congifurations (rule set) you can simply define Smart Routing between the selected gateways.

  1. Smart Routing with Weights:
    When you select ‘Smart Routing with Weights’, you define weights for your gateways for a particular rule. flowWise will take your weights inputs for each gateway, factor in the success rate for each gateway and arrive at the weight Success Rate for the gateways. Then, it will route the transactions to the most optimal gateway.
    This type of routing helps you define a distribution of transactions according to you, while also factoring in the Success Rate for each gateway.
    For eg, say you want to route Credit Card transactions through Cashfree and PayU, but you want to route 60% of transactions through Cashfree, and 40% through PayU, while optimising for success. Then you select this type of routing.

  1. Threshold Routing:
    This routing is especially useful when you have a preferred payment gateway that you want to route 100% of your transactions through.
    Threshold routing ensures you can define a lower limit of success rate for your preferred gateway. If the threshold is breached, there will be routing done according to ‘Smart Routing’
    For eg, say Cashfree is your preferred gateway, and PayU as a back-up gateway. Now, you want to route 100% of your transactions if Cashfree is having Success Rate above 70%, else if Cashfree is experiencing low success, you want to route majority through PayU.
    This use-case is possible through Threshold Routing.

  1. Volume-Based Routing:
    No Dynamic Routing here, you are in-charge of defining volume distribution here.
    You can simply define the distribution of transaction between gateways through Volume-Based Routing.
    For eg., you want to route netbanking transactions between Cashfree, PayU and PayTm, equally. So, you can define the weights as 33.33% for each. Now, transactions will be routed between the three gateways equally.
    You can tweak the weights according to your business use-case.

What’s Next