PAYMENTS OPTIMIZED
Enhance your payments stack with Beanstalk intelligence.
What We Do
Optimized Routes
Beanstalk has built an intelligent routing solution that identifies the optimal, least-cost network across which each of your eligible card transactions could be communicated to the card's issuing bank. These optimal routes will lower your transaction costs and increase your authorization rates.
Dynamic Dashboard
Our dashboard provides you will real-time insights and reporting capabilities.
For those using our routing APIs, those insights will include detailed metrics highlighting your activity and the savings that you can expect to realize as a result.
PINless POS
You can leverage Beanstalk's routing intelligence for card-present transactions within your point-of-sale solution in the same way that you do for card-not-present transactions in your ecommerce solution.
How We Do It
We use various characteristics of a given transaction including the BIN of the card being used, the MCC of the originating merchant, and the amount of the transaction in our routing intelligence to identify the optimal, least-cost network across which the transaction could be routed.
BINs
The first six digits of a card number are referred to as a BIN (bank identification number). From this value, we can:
- Identify the card's issuing bank.
- Ascertain if the card's issuing bank is regulated or not regulated.
- Ascertain if the card is a debit card or credit card.
- Identify all networks associated with the card that support PINless routing.
Routes
In order to reach its issuer, a card transaction is generally routed across the card's 'bugged' network. Along this path, various network and interchange fees will be charged.
However, for many cards there are alternative, cheaper routes available over one or more debit networks.
Our intelligence identifies those cheaper routes.
Connections
Identifying an alternative, cheaper route is only one step in our routing solution. Communicating with the optimal debit network in order to process the transaction on your behalf is another.
Beanstalk has established dedicated, leased-line connections into each of the debit networks utilizing the ISO 8583 message standard.
This architecture provides a high level of reliability and bandwidth consistency.
Can Beanstalk's routing solution still save you money when the debit card's issuer is a regulated bank? Yes!
With Beanstalk's routing solution the savings opportunity is generally much greater for a debit card that has been issued by an unregulated bank versus one that has been issued by a regulated bank. This is because the Durbin amendment to the Dodd-Frank act requires that interchange fees be 'regulated' for debit cards that have been issued by regulated banks. This 'regulated' rate (.05% + $.21) applies to debit cards whether they are processed over a credit network or a debit network. Thus, for 'regulated' transactions there is generally no opportunity to realize interchange fee savings through route optimization.
However, the Durbin amendment does not 'regulate' network fees. These fees can differ significantly across the various debit and credit networks. So, while you wouldn't necessarily expect to realize savings attributable to interchange fees for 'regulated' transactions, you may, in fact, realize material savings attributable to network fees.
Who We Support
Payments organizations belonging to a wide variety of merchant categories (including the following) can benefit from Beanstalk's routing solution.
government
medical
fitness
rideshare
charity
property rentals
ecommerce
insurance
As shown below, the characteristics of the cards used for payments made to these organizations represent a significant savings opportunity.
0
% debit cards
0
% routable
0
% unregulated
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