Forter unveiled Forter Smart Routing, an automated payment routing solution to help merchants prevent the revenue loss driven by false payment declines throughout the payment process.
The payment process involves gateways, credit card issuers, processing banks, merchants and more, all of which make fraud decisions in isolation. Forter Smart Routing unites all parties in the payment process through the creation of a trusted data network. This allows for accurate and consistent decisions throughout the process, ensuring legitimate transactions to be approved.
Powered by advanced AI technology and a Global Network, Forter Smart Routing is the industry’s first solution to give merchants more control by providing automated payment routing decisions to eliminate false declines and reduce lost revenue by 50%.
“By partnering with the world’s largest issuers and acquirers, Forter creates a unique, trusted network across each player in the payments ecosystem to improve their risk evaluations and authorization approvals at every level,” says Michael Reitblat, Co-founder and CEO of Forter. “This prevents legitimate transactions from being declined or lost at various points of the purchasing process, which hurts not only the merchant but their customers as well. Forter provides merchants with automated decisions throughout the entire payment flow and determines the best routing for a transaction to ultimately be approved.”
Forter Smart Routing provides the following capabilities:
- Accurate pre-authorization fraud detection. Improve business’ risk profile and increase authorization rates by blocking fraudulent transactions before bank authorization.
- Dynamic 3DS. Increase conversion while meeting all risk and compliance requirements by triggering 3DS authentication only when required.
- Smart routing. Determine the optimal processor for every transaction with advanced AI models to avoid authorization declines and minimize processing costs.
- Recovery of declines. Recover legitimate transactions and revenue that would have been lost entirely after being declined during the payment flow.