What is a Payment scheme?

Payment Scheme is a smart organism that consists of several well-structured segments working simultaneously to make the payment process as smooth as possible.

We consider the Payment scheme to be the heart of our system and one of its core elements. It defines the way payments are processed, routed and managed. The scheme-building process is complex yet excludes any obstacles preventing you from accepting the payments successfully and effectively.

Let’s overview each level step-by-step before jumping into its technical aspects and peculiarities.

Workflow & Level differentiation

To begin with, you should examine certain system preconditions that allow the Payment scheme to function within our system.

You can create multiple Payment schemes and link them to specific Merchants.
Multiple Payment schemes can be attached to one Merchant, but only one Scheme can be activated and take part in processing.

Now, you can review the levels that evolve around the Payment scheme:

Exchanges

Each Payment scheme combines the Currency exchange component to enable Merchants to process and manage the payments in the desired currency. This two-phased component is reproduced on the higher Scheme and the lower Method levels. Thus, one Payment scheme has one FX scheme attached with a flexible set of Rules that can be further modified and predetermined. To learn more about the interdependence of the exchange procedures on each level and how currency management can influence Merchants, go to the Enable Exchanges guide.

Payment methods

Each Payment scheme can include multiple Payment methods depending on the Providers connected to the system. Therefore, one Payment method can contain multiple Routes aggregated by Provider Method Type and Flow. Route management is rather adaptable and designed to enable you to adjust Routes and establish Routing strategies.

Provider routes

Provider routes are built on the basis of the Provider Method Type and Flow. The Routes are responsible for settling the possible pathways for how the payments should be distributed according to specific Routing rules and limits you can establish. It is a critical mechanism that enables the correct processing in case multiple Payment Providers are linked to the system.