Businesses are now able to route payments globally using artificial intelligence (AI), following the launch of a new service by the payments services organisation Worldline.
Payments are routed through acquirers, and choosing the most suitable one leads to increased authorisation and optimised costs. Traditionally, it would be challenging to select the right acquirer quickly, but with the new Worldline solution, merchants can utilise AI to select the optimal payment route in real time by analysing transaction data, in turn uplifting conversion rates.
Some of the pilot merchants are experiencing an uplift of over two per cent in authorisation rates (on top of three per cent with rule-based routing). The existing rules-based solution routes transactions to the acquirer with a low interchange fee, with one customer witnessing a €1.63million boost in revenue.
Khalil Kammoun, head of shared services at Worldline, commented: “With AI-driven routing, we’re enhancing authorisation rates through smarter decision-making and unlocking new revenue for our customers. At Worldline, we view payments as a growth driver for businesses and through this solution, we are delivering on that promise. Our aim is to enable businesses to achieve new levels of efficiency, cost savings, and payment optimisation.”
Adjustment to meet consumer operational needs
By boosting authorisation rates and reducing cost, Worldline helps customers to maximise profit margins. The solution offers a dual-layered routing strategy, combining the reliability of predefined rules with the adaptability of machine learning. This allows businesses to adjust their payment processes to fit specific operational needs.
Key features of the full solution include:
- Omnichannel capability: the rules-based service can be used from multiple touchpoints for both online and in store transactions.
- Global reach: supports multi-currency, multi-acquirer environments with intelligent cross-border payment handling.
- AI-powered routing: this feature used global online businesses selects the most favourable acquirers, increasing conversion rates.
Worldline’s AI-based solution is already being used by global e-commerce customers and will soon be available for other Worldline payment platforms.
