A key component of any payment system is the integration of transactions or connectors or web services to allow a platform to link with external systems and interchange transaction information. There being many networks and systems involved in processing of a payment transaction, the mode of data transfer varies, it is dependent on data and message specifications that are drawn up by the owners of the individual systems or arrived at mutually. Base message specification that is predominantly used in payment networks is ISO 8583 in this domain to connect with other systems which allows them to receive a transaction message in this format, parse it, apply business logic on the data and respond back in the same format. Other payments communication is based on processing transactions using HTTP POST/GET protocol and few others use web services.
ISO 20022 is an upcoming messaging standard and framework which overcomes the need to have multiple standards to follow for different financial domains. ISO 20022 message interface is based on UML models representing financial business processes and transactions neutral to syntax. Business transaction models can be converted into physical messages in the desired syntax- XML is preferred. The business domains covered are Payments, Securities, Foreign Exchange, Trade Services or Cards. A key differentiator and benefit that ISO 20022 brings is allowing smooth inter-operability between the financial institutions through data format standardization across domains through use of standardized data models.
Processors Schemes Gateway Terminals Mobile Readers e-Businesses eCommerce Food Chains Sports Events Prepaid Health Insurance Gas Stations Payments Securities Foreign Exchange Trade Services http Post Web Services Cards ISO Message HCE
Systems connect to each other through this payment connectors, it becomes important that they "certify" with each other to ensure that all transaction processing is being performed without any glitches between them.
These certifications are done once in few months to ensure that a change performed on either side do not break the transaction processing and the established specifications.
Our team has good experience in devising and developing such payment connectors based on various specifications defined by standard protocols and proprietary specifications like Base-1 and Base-2. The value add that we bring in is to devise connectors, mobile interfaces which are made reusable as these are features can be developed based on defined customer framework and which are customizable easily based on the requirement without the need to build a new connector ground up.
A payment gateway is an e-commerce application service provider; service that authorizes payments for e-businesses, Online Retailers, Food Chains, Sports, Events, Prepaid, Health, Insurance, Gas Stations and other verticals.
With our strong background in payment systems, we also provide certification support services where we work with our clients and the target system vendors/entities to understand, co-ordinate, customize the payment connectors, test and actively participate in the certification cycle.
Our team has worked on ISO 8583, ISO 20022, APAC and proprietary message packets. Our team consists of experts in Interfaces for processors, CA, gateways, terminals, mobile, readers, and 3rd parties etc. to help in credit/ debit, prepaid, gift, loyalty, vouchers, check, ecommerce, carts and others related areas.
Our team has worked and interfaced using different protocols to support the systems like IP, dialup, HTTPS, GPRS etc.
Our Team helps and works closely with our customers to understand the existing scope, current business scenarios, flows of the existing systems, to provide the consulting solutions to Build, Architect, Enhance Features, Design, Develop, Test, Automate, Deploy, UAT.
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