ALTERNATIVE ELECTRONIC PAYMENT SAAS SOLUTION

Customer:

The customer is a US-based fintech corporation offering full-cycle enterprise management automation platforms and revenue management SaaS solutions. With over three decades on the market, the company has been dedicated to helping businesses reduce costs and enhance cash flow through innovative technology solutions.

The project:

The platform aims to minimize reliance on expensive credit card transactions, allowing businesses of all types to provide customers with more tailored rewards and discounts.

Trusted by central banking institutions, the platform provides efficient methods for transferring funds, resulting in fewer failed transactions, less fraud, and fewer forced returns compared to traditional card payments.

Business challenge:

The client had a large SaaS platform that handled credit card and ACH tokenization and transaction processing. However, they needed to update this process to meet modern standards and requirements (e.g., implement Network Tokenization and 3D Secure protocol). The challenge was segregating payment-related services into a standalone white-label application, which our client planned to offer its customers for an extra fee.

Technology solutions:

 - Implemented Network Tokenization and 3D Secure protocol to evaluate transaction risk levels and decrease fees during payment processing

 - Used load-balancing to create redundancy and spread risk by sending transactions to multiple banks

 - Employed HTTPS, API whitelisting, SFTP protocol, encryption, and tokenization to secure data storing and transferring

Value delivered:

 - Reduced processing costs for financial transactions

 - A portal with a customizable interface and various configuration options that our customer can use to expand their client base

 - Potential new revenue streams

Technologies: 

.NET 7, ASP.NET Core, Dapper, MySQL, DynamoDB, AWS S3, AWS SecretsManager, AWS SQS, AWS KMS, Fast Reports, SendGrid, Angular, Kendo UI, Bootstrap 5, TypeScript.