Payment services provider Worldline has launched its AI-enabled routing solution, aiming to support businesses in boosting payment authorisation rates.
The announcement comes after successful pilots, where the solution has provided boosted authorisation rates by over 2% in addition to the 3% improvement obtained with its rule-based routing, according to Worldline.
Using AI for payment routing
Worldline’s routing solution utilises AI to analyse transaction data and select optimal payment routes in real time to further increase conversion rates. The existing rules-based service routes transactions to the acquirer with minimal interchange fees, with one customer experiencing a EUR 1.63 million increase in revenue, based on Worldline’s data. By increasing authorisation rates and diminishing costs, the company seeks to allow customers to maximise profit margins without requiring them to make additional effort. Worldline’s solution provides a dual-layered routing strategy, merging the reliability of predefined rules with the adaptability of machine learning. Through this, businesses can adjust their payment processes to fit specific operational needs.
Furthermore, among the key capabilities of Worldline’s new service, the company mentions:
- Omnichannel features, with businesses being able to leverage the rules-based service from multiple touchpoints for both online and in-store transactions;
- Global reach, as it offers multi-currency support and multi-acquirer environments with intelligent cross-border payment handling;
- AI-enabled routing, with the feature selecting the most favourable acquirers, in turn boosting conversion rates.
Furthermore, Worldline’s AI-based solution is already utilised by global ecommerce customers and will be available to other payment platforms of the company. Additionally, the service solidifies Worldline’s position as a participant in the global payments industry, advancing intelligent transaction management.
The announcement follows Worldline’s partnership with commercetools, with the two companies working on improving payment solutions for ecommerce businesses. The collaboration was set to allow commercetools customers to access a diverse range of Worldline’s payment solutions, including local payment methods, multi-currency support, as well as fraud detection and real-time transaction monitoring.
