Payment Switches
Payment Switch is a tool to facilitate communication between different payment service providers. Switch usually provides authorization and change solutions based on merchant-driven rules.
It seamlessly routes payment transactions between multiple acquirers and Payment Service Providers. It is located at the center of payment processing, acquisition, routing, exchange, verification, and dynamic transaction authorization across multiple payment channels.
The Payment switch expands the payment network by quickly adding new payment methods and providers with minimal integration costs.
How does it work?
Once the payment request is initiated, the switch permits the merchant and transaction. Based on the transaction status (either failure or success), it is further processed. Payment Switches then vigorously routes authorized transactions based on the pre-defined rules.
Features
Today, merchants are selling through multiple acquisition banks around the world. To provide seamless services to customers, Payment Switches must meet the following requirements.
Dynamic Routing
The acceptance rate of different acquiring banks varies with multiple variables. Switch treats these variables as rules and uses them to dynamically route transactions, maximize payment performance, and minimize transaction failures.
Fraud Management
PSPs should strike a balance between a seamless experience and effective fraud management. Payment Switches handle thousands of transactions, and that makes it difficult to spot suspicious behavior. Therefore, to detect fraud, a Payment Switch should support 3DS processing and offer real-time notifications.
Payment Network Extension
Customers pay online with the option they are comfortable with. There are many PSPs available, and the numbers will keep rising. Payment Switch must support the integration of multiple PSPs and global acquirers, minimizing the integration cost for merchants.
Security
One of the most important aspects of online/digital payments is security. For the safety of customers and merchants, the Payment Switch must provide encryption and streamlining tools in accordance with PCI DSS
Our Products
Some of our best performing SaaS Products
iMPACT
iPath offers 'iMPACT' a multi-institution transaction processing middleware enabling a broad spectrum of payment ecosystem requirements in a single robust platform.
iCON
iCON offers a complete software solution to enable users to access all the bank's business functions from an ATM and POS. It includes promoting innovative services and transactions at the customer level and effectively managing and monitoring the entire banking system from a central point.
iNOVA
iNOVA offers a full-function Card Management System providing comprehensive processing capability with rich functionality, seamlessly integrating with core banking, mobile wallet, back-office operations, and support for 3rd party integrations.
iDRS
iDRS promotes fast and accurate case processing to reduce costs and improve user experience based on a structured and automated workflow. It provides an advanced user interface, excellent operational management, enhanced reporting, and better-integrated functions
Features & Solutions
Some of the Features, Services and Solutions that we offer
Contact Us
iPATH (Pvt) Ltd is an innovation factory that builds products using quick development cycles personalized to organizations’ strategic needs.
iPath Pvt. Ltd. 9th Floor,
Kawish Crown Plaza,
Main Shahrah-e-Faisal
Karachi Pakistan.
+92 21 111 767 911