Praxis Tech, a leading Payment Orchestration company, announced AI Smart Routing, a new feature that helps merchants improve their payment success rates. The tool analyzes how different Payment Service Providers (PSPs) perform and suggests simple changes to boost first-time approvals based on each merchant's acceptance rates across their providers.

Most businesses set up specific sequences to send the same payment through multiple processors to guard against transaction failures. If the first provider can't process it, the payment gets sent to alternative providers in turn to maximize approval chances. AI Smart Routing studies this performance data and recommends changes to the priority order of which provider should go first, second, and so on, based on which ones actually approve the most payments for each merchant's specific situation.