Client needs an online electronic payment gateway as client is an e-commerce marketplace start-up company positioning itself to become the market leader by offering online merchants and consumers a uniform and trouble-free platform to perform transactions.
Client wants a Fintech division by having their own payment gateway to enhance trust between buyers and sellers i.e. a payment gateway where customers avoid paying the seller directly online. Instead, the payment is made to the system.
Client required following Features and functions in desired Payment gateway:
Additionally, client also wants to be able to provide this service as a third-party to other e-commerce platform using our APIs. However, they want to have other normal functionality of the conventional payment gateway, where sellers can get payment directly without an escrow service. The Escrow service should not be a default, should only be implemented when asked for by a merchant. This will also enable them provide this service to other non-marketplace platforms.
We develop desired Fintech Division as a Payment gateway as per the given details:
We proposed a model of electronic payment gateway on the basis of requirements of an electronic payment gateway.
There are five interfaces.
Online Customer will connect to e-payment gateway through Internet. Gateway will connect to the Bank and check whether its bank accounts are enough to buy the required product. Online customer can also visit Merchant’s website through Gateway.
Detailed model Following diagram will explain working of electronic payment gateway in detail.
An Example of Credit Card Process by considering our proposed model:
The core of the PCI DSS is a group of principles and accompanying requirements, around which the specific elements of the DSS are organized:
We support accompanying following requirements (Developer and System Admin).
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