Developing Custom Payment Processing Services for Poynt Open-Commerce Platform  

Goals and objectives

• Update the Payment Processing Service to a PayFac Model: Streamline the merchant onboarding process, allowing for quicker and more efficient sub-merchant approvals. Implement enhanced risk management strategies to monitor and mitigate potential fraud or compliance issues.
• Implement a UI Part of a Payment Gateway That Can Be Embedded into Existing Checkout Pages by Merchants: Develop an embeddable, highly customizable, user interface component for a client’s payment gateway with advanced security features such as SSL encryption, tokenization, and fraud detection.
• Continuous L3 Support of a Payment Processing Service, Payment Gateway, and API Service:  Assemble a dedicated team of specialists to handle complex issues and escalations to provide ongoing Level 3 technical support, including implementing proactive monitoring tools to detect and resolve issues before they impact users.
• Update the Billing Service to Support New Types of Billing Plans and New Types of Users: Enhance the billing service to accommodate new business demands, supporting various billing models, such as subscription, usage-based, and tiered pricing. 
• Integration and Certification with a New Strategic Third-Party Payment Processor, Adyen: Utilize Adyen’s APIs to enable seamless transaction processing across multiple payment methods, completing necessary certifications to comply with Adyen’s security and operational standards.
• Upgrade the Settlement System to Handle High Traffic: Enhance the settlement system to efficiently process increased transaction volumes, including conducting performance optimization, and optimizing algorithms and database queries to minimize latency.
• Allow Customers to Save the Card and Use It for Future Purchases: Enable customers to store their payment details for future transactions by using tokenization to securely store payment details without retaining sensitive card information. 
• Support of Surcharge Fees: Implement the ability to apply surcharge fees for transactions, ensuring compliance with local regulations. Provide a way for these fees to be communicated to customers during the checkout process to avoid confusion. 
• Optimization of Transaction Fees to Increase Revenue: Work on ways to reduce transaction fees to maximize the profitability of the business. Implement intelligent routing to secure the most cost-effective payment network for each transaction. 
• Several Upgrades and Certifications of Elavon Integration According to New Specifications: Meet new specifications and certifications by updating systems to comply with the latest Elavon requirements. 
• Bi-Directional Sync of Data Between Internal Core Systems: Define data mappings and transformations to ensure accurate synchronization of relevant data fields, including the implementation of real-time data sync to ensure that changes in one system are immediately reflected in the other. 
• Integration with Several Digital Wallets, Including Apple Pay and Google Pay: Expand payment options by integrating with several popular digital wallets and comply with security standards and guidelines set by each provider.