Glossary

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Terms | Description

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Optimizer | A Razorpay product that routes payments through multiple payment providers with a single integration, optimising transaction costs and success rates.

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Real-time Optimisation | The process of proactively routing transactions to the best available gateway or acquirer based on real-time data.

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Acquirer | A financial institution or bank that processes credit or debit card payments on behalf of a business.

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Gateway Priority | A configuration in the Optimizer that determines the order in which payment gateways are used for processing transactions.

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Payment Gateway (PG) | A service that authorises and processes payments for online transactions, acting as an intermediary between the business and the financial institution.

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Smart Routing | A feature of Optimizer that intelligently routes transactions to the most appropriate gateway based on performance data and predefined rules.

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Integration Audit Tool | A tool designed to automatically identify and address issues with payment provider integrations before they go live.

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Priority-based Routing | A routing feature that assigns an order of priority to payment gateways, allowing transactions to be rerouted based on gateway performance.

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Rule-based Routing | A routing feature where custom rules are defined based on various payment parameters, such as payment method, bank, and card networks.

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Standard/Default Routing | A simple routing method that prioritises gateways for all transactions based on predefined rules.

Payment Aggregator (PA) | A service provider that processes payments on behalf of businesses by aggregating transactions from various payment methods.