Platform for Efficient Payment Processing
Platform for Efficient Payment Processing
![Platform for Efficient Payment Processing](https://solbeg.com/wp-content/uploads/2024/05/1-2-1024x569.jpg)
Platform for Efficient
Payment Processing
Techlology/Services:
Goland
python
php, radis
git, jenkins
5+
years of development
![Platform for Efficient Payment Processing](https://solbeg.com/wp-content/uploads/2024/05/1-2-1024x569.jpg)
Challenges
The client, an international payment processing company, sought to enhance its transaction processing capabilities to accommodate a larger volume of transactions per second. Additionally, they aimed to integrate a greater number of third-party systems such as banks and payment processors.
Solutions
The Solbeg team, in response to the client’s needs, revamped their existing merchant payment system, which initially had limited bandwidth. Through rigorous development efforts, Solbeg’s team bolstered the system’s transaction capacity, resulting in significantly improved TPS performance and a broader network of acquiring banks.
Key enhancements included the implementation of custom modules to seamlessly integrate external banks, enhancements to the system’s customer interface, and optimizations in transaction processing mechanisms. Within a swift timeframe, Solbeg delivered a minimum viable product, meeting the client’s urgent requirements.
Furthermore, the system was meticulously designed to comply with the Payment Card Industry Data Security Standard (PCI DSS), ensuring stringent security measures for the processing, transmission, and storage of sensitive payment card data.
Impact
The implementation of Solbeg’s enhanced system brought about several notable impacts:
- Payment and payout aggregation: the system facilitated streamlined payment and payout aggregation processes, simplifying financial operations for merchants.
- Increased operational resilience: with improved transaction processing capabilities and enhanced system reliability, the client experienced heightened operational resilience, reducing the risk of disruptions.
- Enhanced transparency: merchants benefited from comprehensive insights into each stage of the transaction lifecycle, fostering transparency and trust in the payment process.
- Seamless integration: the system seamlessly integrated with merchants’ existing systems, ensuring smooth interoperability and facilitating a frictionless user experience.
Moreover, the system’s architecture facilitated the amalgamation of multiple acquiring banks, payment service providers (PSPs), and financial institutions. This enabled merchants to access a wide array of financial services and benefit from competitive rates tailored to their transaction volumes and amounts.
In essence, Solbeg’s solution not only addressed the immediate challenges faced by the client but also positioned them for sustained growth and competitiveness.