Global Payment Processing Provider

GLOBAL PAYMENT PROCESSING PROVIDER

Customer

The customer is a rapidly developing fintech company aiming at the top spot in the domain of global payment processing. They provide security-centric integrated payment processing solutions for vertical-specific industries such as accounts receivable management (ARM), eCommerce, education, and healthcare.

Apart from processing payments, the customer handles multiple processes, such as interactions with various industry players and institutions and estimating risks associated with various merchants.

Business challenge

Some challenges in the project emerged from the overall complexity of the customer’s business. The payments processing industry has a complex, rapidly changing ecosystem involving various institutions, technologies, and players.

For example, merchant payment transaction processing involves implementing anti-fraud measures, such as functionality for risk scorecard generation. The main challenge associated with creating this functionality was in different demands of regulators.

Besides, the customer needed solid automation for their business processes. The company heavily relied on spreadsheets manually entering data from third-party services, which required much time and effort. With the growth of customer’s business, spreadsheets had to be replaced for more efficient operations management and quicker data processing.

Technology Solutions:

• Functionality for accepting, processing, and settling payments for merchants in vertical-specific industries
• Automated risk analysis system to clearly and accurately evaluate how risky a merchant would be to acquire
• Versatile environment for underwriters to easily assess recommendations and determine the creditworthiness of merchants, agents, ISOs
• Receiving accurate results for a set of checks from 3d parties vendors due to multiple integrations

Value delivered:

• The system we developed was acquired by a global payment processing provider, and Leobit continues expanding the solution.
• 100% of the customer’s payment workflows that have previously been done manually are now automated.
• Leobit eliminated inevitable human errors, saved customer’s costs for manual work, and, most importantly, decreased the time of deals processing by five times.
• The customer received a simplified merchant onboarding process.
• The customer is not just using a solution to process their end-users but also selling it as a SaaS.

Technologies: C#, .NET, ASP.NET Core, Angular, MySQL, Dapper, AWS