The SmartBin feature gives you the ability to have payments automatically routed to the gateway that has the highest statistical likelihood of success. I.e. increase approvals by using the gateway most likely to approve a specific customers' credit card.
Note: SmartBin is an extra charge per month. You must contact RevCent first in order to enable SmartBin for your account.
Upon a payment request, RevCent will calculate the score for each available gateway specific to the customer credit card being used.
The details are more complex, as RevCent conducts statistical analysis for your entire transaction history. The algorithm generates a score based on statistical results, indicators and conditions at the time of payment request.
Brief Summary:
The scoring that goes into SmartBin is complex, consisting of numerous factors, including historical data, recent transactions, time windows, anomalies and more. SmartBin also prevents potential overloading of gateways for specific issuers by analyzing scores alongside volume for relevant gateways. The gateway scoring is done for each payment request, specific to the customer card, in under a second.
SmartBin is only available when using a Next-Gen Payment Profile to process payment requests. To use SmartBin, it must be enabled within a Choose Gateway node in a Next-Gen profiles' flow. If SmartBin is enabled when choosing a gateway, the SmartBin scoring will take place and gateways ordered according to the highest SmartBin score.
It is imperative that you have completed the steps below before using SmartBin.
Important: If you do not properly complete the steps below you will have less than optimal results when SmartBin is used to choose a gateway.
You will need to edit all gateways within your RevCent account, regardless if you are still using it. Historical data is very important, event if gateways are dormant/no longer used.
When editing each gateway, you must set all acquirers for each of the card brands.
When on an individual gateways' edit page, click the Acquirer tab.
Go into each of the card brand tabs and select the Acquirer for each card brand.
Select the Acquirer for each card brand.
After setting all acquirers, save changes for the gateway.
Once you have set all acquirers for all gateways in your RevCent account, you are ready to enable SmartBin. Continue to the Enable SmartBin section below.
There are multiple steps to begin using SmartBin. You must enable it within your RevCent account by contacting RevCent, then use it in a next-gen payment profile Choose Gateway node.
If you have not already contacted RevCent, you must do so in order to enable the SmartBin feature within your RevCent account.
View your payment profiles and edit the Next-Gen Payment Profile that you wish to use SmartBin for. Only Next-Gen profiles have the SmartBin feature built in.
Modify a Choose Gateway node within the payment flow.
When viewing the Choose Gateway nodes' settings, select Yes for the Use SmartBin setting.
If you properly prepared SmartBin and have opted to use it for a Choose Gateway node, RevCent will begin routing payments to the optimal gateway, ultimately increasing your approval rates.
There are scenarios in which you may have SmartBin enabled, but it will not be used when choosing a gateway during a payment request.
You can identify when SmartBin was used, as well as the SmartBin scores, when viewing transactions and their respective payment flows.
When viewing transactions, look for the orange SmartBin icon. Click the grey payment flow icon to the left of the orange icon to view a transactions' payment flow.
When viewing the transactions' payment flow, find the choose gateway node indicating SmartBin and click the View Choice Process link.
When viewing the transactions' choice process, scroll down to the SmartBin Order section. You will see the order based on the SmartBin scores.
When a gateway is new and does not have enough historical data to create an accurate score, RevCent will artificially boost the SmartBin score to allow for sampling. Sampling will take place infrequently for a gateway as to not overload the gateway as well as prevent other gateways from processing a specific BIN.