Systems and methods for optimizing transaction authorization conversion rate

A device for optimizing transaction authorization conversion rates, comprising:

• a memory configured to store instructions;
• and
• one or more processors configured to execute the instructions to perform operations comprising:
• retrieving a plurality of payment transaction parameters from and factor success data a database of payment transaction processing results;
• generating, via a machine learning model, a plurality of authorization success factors for the plurality of payment transaction parameters, wherein the machine learning model is configured to analyze factor success data, the plurality of payment transaction parameters, and the payment transaction processing results to generate the plurality of authorization success factors, wherein the factor success data includes a plurality of weights to apply to the plurality of authorization success factors to optimize the machine learning model;
• receiving a payment transaction including transaction data from a merchant device;
• modifying one or more transaction parameters of the transaction data based on the plurality of authorization success factors;
• generating a modified payment transaction based on modifying the one or more transaction parameters;
• submitting the modified payment transaction to a financial institution for processing;
• receiving a payment transaction authorization result for the modified payment transaction submitted;
• analyzing, via the machine learning model, the payment authorization result to automatically calibrate one or more optimization factors based on the factor success data and the modified payment transaction and the payment transaction authorization result, wherein automatically calibrating the one or more optimization factors optimizes the machine learning model for generating a plurality of subsequent authorization success factors for a subsequent payment transaction;
• and
• adding the payment transaction authorization result and the automatically calibrated factor success data to the database of payment transaction processing results.

A non-transitory computer readable medium storing instructions that, when executed by a processor for optimizing transaction authorization conversion rates, cause the processor to perform operations comprising:

• retrieving a plurality of payment transaction parameters and factor success data from a database of payment transaction processing results;
• generating, via a machine learning model, a plurality of authorization success factors for the plurality of payment transaction parameters, wherein the machine learning model is configured to analyze factor success data, the plurality of payment transaction parameters, and the payment transaction processing results to generate the plurality of authorization success factors, wherein the factor success data includes a plurality of weights to apply to the plurality of authorization success factors to optimize the machine learning model;
• receiving a payment transaction including transaction data from a merchant device;
• modifying one or more transaction parameters of the transaction data based on the plurality of authorization success factors;
• generating a modified payment transaction based on modifying the one or more transaction parameters;
• submitting the modified payment transaction to a financial institution for processing;
• receiving a payment transaction authorization result for the modified payment transaction submitted;
• analyzing, via the machine learning model, the payment authorization result to automatically calibrate one or more optimization factors based on the factor success data and the modified payment transaction and the payment transaction authorization result, wherein automatically calibrating the one or more optimization factors the optimizes the machine learning model for generating a plurality of subsequent authorization success factors for a subsequent payment transaction;
• and
• adding the payment transaction authorization result and the automatically calibrated factor success data to the database of payment transaction processing results.