Cashier as a useful tool for the UTIP broker
There are three most common payment methods offered to brokers:
Payment systems. These are companies that have their own gateway to accept payments. In our case — from traders to a broker.
Payment aggregators. These are companies that can provide several payment methods: for example, cards, crypts, e-wallets, etc. Or several payment systems are integrated into the payment aggregator. Sometimes the payment system and the payment aggregator mean the same, at least from the standpoint of using them as a term.
Cashiers. Cashiers represent companies that are non-payment services providers, but they integrate various payment solutions within their system. In brief, the essence of cashiers is to boost the percentage of successful payments made by clients. We will give a more detailed information about them in the present article.
Cashier functions for brokers
Cascading option. This is the processing of failed transactions, increasing the conversion of successful payments. If the transaction gets failed on channel A, it is transferred to the channel B, C and so on. For example, a trader made a card payment, but the first payment system rejected it Cashier automatically transfers the payment to the next payment system and so on until the payment passes.
Routing. Transactions are automatically distributed between channels based the payment parameters. A trader enters card credentials, the payment is transferred to the gateway that is most likely accepts it. For example, RUB transfers to channel A, USD — to channel B. Either Europe — on channel C, Russia — on channel A.
Cascading and routing rules can be configured simultaneously. As an example, if a broker has 3 RUB channels and 3 USD channels, the use cases can be described as follows: the system first distributes requests between A and B channels depending on the currency and then transactions are cascaded between multiple channels.
Balancing. MID configuration. For example, 50% by 50% or 25% by 75%, etc. If the broker has agreed upon working with a payment solution for a certain turnover, or aims to diversify turnover between several equivalent channels. Balancing is a part of routing.
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