How PayUbiz dynamic switching improves transaction success rates
Dynamic switching is like Maggi’s masala or coke’s secret formula, with the only difference that we believe in telling this secret to our customers. We believe this gives them confidence and builds trust. In dynamic switching we route your transaction to the best possible payment gateway at that time. It powers your all transactions even if you don’t explicitly ask for it.
How do we do it?
We take many factors into account, highlight being Bin Success Rates (Bin: first 6 digits of the card which identifies issuer) and current health of PG. This is because Success rate (SR) of a transaction depends on which issued bank card is routed through which PG (acquirer). For instance an HDFC issued card will always have higher success rate on HDFC PG owing to lesser hops in the flow. We keep storing success rates on various bins on various PG which is used in the algorithm.
It may be that usually a bin performs very well on a PG but currently the PG is facing a downtime. So current bin health is also important factor to consider. In case it is down, the transaction is routed through next best PG for that bin. Basis these 2 factors we decide which is the best PG for your transaction.
What’s more, there are cases when a transaction fails and we offer a PayUbiz retry. In retry we send the transaction through the second best PG, eliminating transactions failing due to PG’s reasons. And finally it’s not just a few lines of code , we have topped all the above with manual curations and insights from humongous data based on our experience in the industry over the years.
What do you get?
Best Success rate: Once a transaction goes through the best available PG, there is higher possibility of it being a success and we know it is most important parameter for you. You don’t want to miss even a single customer at last leg of the journey. Dynamic switching alone can improve you success rate by 6%.
Best reliability: While you are away concentrating on your business, sleeping, travelling, partying, our algorithm keeps working 24X7 and decides not to route the transaction through a PG which is facing downtime or is under-performing. All because we want to give you the best results for every dollar that you spend on us.
So sit back and relax as we do the hard job for you. Do ask for maximum PGs from your account manager. The more PGs you have more ways of routing a transaction we have for you and hence you get best success rate. Happy Selling!