Itransition team revamped payment processing system for established payment transaction service provider.
Our Customer is an established payment transaction service provider offering high technology systems for business and individuals. Their payment solutions allow for better quality service in the financial area combining national standards with the best industry practices.
The Customer had an existing solution for processing payment terminal transactions. However, the system was outdated and did not correspond with the market demands anymore. Having analyzed the options, the Customer decided to choose Itransition as a trusted vendor of fintech software solutions due to our technology expertise and deep industry understanding.
The system our Customer had did not meet the requirements of a fast-paced financial services market. With this in mind, the main objective of the project was to develop a new, more flexible solution in terms of integration with new financial service providers and better user experience in general. The requirements also included report generation functionality according to predefined rules and user rights management.
The old solution had several major issues to eliminate:
Taking into account the Customer’s needs, the new solution excludes all the previous problems and serves as a more flexible and convenient payment processing system.
The solution automates the following business processes:
payment acceptance, posting, and data processing ;
integration with a number of payment services (for instance, mobile operators, utilities, etc.);
report generation according to International Financial Reporting Standard (IFRS);
self-service payment kiosks management including encashment, status check (errors, software version, payments, cash accepting, etc), and maintenance notifications.
At the moment, the solution has 3 main user roles:
The system processes approximately 60 000 transactions on a daily basis and the maximum response time is no longer than 5 seconds (excluding report generation operations).
The Customer teamed up with Itransition to revamp their payment processing solution and got a full cycle of services, from initial investigation and requirements specification to IT maintenance and support. The result of this collaboration is a high quality IT system with enhanced user experience that allows both consumers and service providers to manage payments quickly and easily.
The Customer visited Itransition’s site to meet the team and work on the requirements specification together with our specialists. We also worked in collaboration with the team that had developed the mobile solution for the Customer’s system.
Our team was involved in the following project stages:
Itransition team included a team lead, three developers, a business analyst, a project manager, and a QA engineer. We held weekly online meetings with the Customer to discuss the tasks performed during the previous week, plans for the current week, problems and resolutions, as well as monthly reports.
In order to provide the Customer with the highest quality of the solution, Itransition performed functionality, security, and performance testing of the system. As a result, several issues were detected and eliminated, and the Customer got a high quality system to bring it to the end users.
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