Payment Processing Flow
How payments are processed using the Smart Router Engine.
How payments are processed using the Smart Router Engine.
This diagram illustrates the sequence of transactions initiated on any platform, like an e-commerce website, and follows through to the final processing by the bank. The steps include:
Starts from an external channel, like an e-commerce site.
Upon receiving a transaction, the Smart Router assesses various criteria to select the most suitable payment gateway (PG) based on pre-configured rules.
Database of MIDs: Repository where Merchant Identification Numbers (MIDs) are stored for transaction processing.
Strategy (1) : Allows selecting multiple MIDs simultaneously for efficiency.
Strategy (2) /: Selection of either one or multiple MIDs. Depending on the choice:
Multiple MIDs lead to a repeated selection process.
A single MID moves directly to the final step (6).
Repetition of Process (n-1) Times: If multiple MIDs are selected, this iterative process repeatedly refines the choices. Each iteration assesses the MIDs against the configured , narrowing down the selection.
Strategy (n) : Finalizes the selection to one MID, ensuring it fits the transaction requirement.
Pass the Selected MID: The chosen MID is forwarded to the transaction processing system to complete the transaction.
The Smart Router directs the transaction to the chosen PG.
The selected PG then processes the payment by forwarding it to the associated bank.