Blog post

Smart Rules for Payment Processing: Boosting Efficiency, Cutting Costs, and Beating Fraud

Smart Rules for Payment Processing: Boosting Efficiency, Cutting Costs, and Beating Fraud
31 Aug 2023

In today's fast-paced digital economy, merchants understand the importance of efficiently managing their payment processing systems. With a keen eye on maximizing profits, minimizing costs, and safeguarding against fraud, businesses are actively seeking tools that grant them the power to tailor their payment acceptance strategies. With BridgerRules, you can do it in a drag-and-drop interface that empowers merchants with a suite of customizable rules to enhance their payment processing capabilities.

Modern merchants are not just seeking solutions; they're seeking tailored tools that align perfectly with their unique business needs. We learned from our clients about their desire for customization and full control of the processing logic. 

1. "Block" Rule: Enhancing Approval Ratios and Fraud Prevention

One of the key challenges in payment processing is striking the right balance between approval ratios and fraud prevention. "Block" rules enable merchants to have control over what to process and what not to process: exclude specific countries, BINs, or brands from the payment flow. By strategically implementing these rules, merchants can prevent transactions originating from high-risk regions or known fraudulent sources, thus significantly reducing the risk of chargebacks and fraudulent payments.

2. "Payment Card" Rule: Minimising PSP Costs and Enhancing Efficiency

Every payment service provider (PSP) comes with its own cost structure, fraud rules and risk appetite. With the "Payment Card" rule, merchants can select a preferred PSP for processing payments based on specific BINs or card brands. This functionality can be leveraged to minimise processing costs, as merchants can route transactions through the most cost-effective PSPs for a given payment card. By strategically assigning PSPs, businesses can optimise their payment processing expenses while ensuring efficient transaction routing.

3. "Payment Amount" Rule: Cost Efficiency and Customer Experience

The "Payment Amount" rule is a valuable tool for optimising both costs and customer experience. By dynamically selecting a PSP based on transaction amounts, merchants can tailor their processing strategy. For smaller transactions, merchants can choose a PSP with lower fees, while larger transactions can be routed through a PSP that is not only cost-efficient but also offers enhanced security features, better settlement terms or a preferred customer experience. This approach ensures cost efficiency without compromising on service quality.

4. "PSP Process Volume" Rule: Risk and Cost Management and Sustainability

Managing PSP costs can be challenging, especially when transaction volumes fluctuate. The "PSP Process Volume" rule addresses this challenge by allowing merchants to set thresholds for the amount of money processed by a PSP, whether on a daily or monthly basis. If the processing volume exceeds the predetermined thresholds, the rule automatically disables the PSP. This strategic approach empowers merchants to control costs and prevent unexpected surges in processing expenses, contributing to the sustainability of their payment processing operations.

Summary: Use rules and automation to Unleashes Payment Processing Potential

BridgerRules by BridgerPay is not just another part of BridgerPay's product; it's a strategic ally for modern merchants seeking to optimize their payment processing strategies. In a landscape where customization is key, BridgerRules empowers businesses with the tools to craft tailored payment flows that align with their unique objectives. By strategically implementing "Block," "Payment Card," "Payment Amount," and "PSP Process Volume" rules, merchants can achieve higher approval ratios, minimize PSP costs, and fortify their defenses against fraudulent transactions.

In a time where every transaction matters, the BridgerPay payment operation platform is the compass guiding merchants toward smarter, more efficient, and more cost-effective payment processing. 

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BridgerPay is not a PSP (payment service provider), or an acquiring service, and we do not provide any processing merchant accounts. Bridger is a SaaS (software-as-a-service) company that allows businesses to utilise one API to consume all payments from any method or provider that is connected within BridgerPay’s ecosystem.