Unipet

Unveiling the Power of Payment Aggregator Services: Streamlining Transactions for Businesses and Consumers

Introduction

The payment aggregator solution is a platform that consolidates multiple payment options into a single interface, simplifying the payment process for businesses and customers.

By integrating multiple payment methods, such as credit cards, digital wallets, and bank transfers, it provides a unified interface for accepting payments. This solution enhances convenience, security, and efficiency, empowering businesses to efficiently manage their payment operations while delivering a seamless experience to customers.

This case study explores how our client, a prominent petroleum company, overcame challenges associated with third-party Payment Aggregator providers and successfully implemented their own payment.

Highlights

  1. Reliance on a third-party payment provider imposed extensive commission fees on each transaction, significantly impacting the client’s operational costs.

  2. The client aimed to develop their own payment aggregator solution to eliminate dependence on external organizations and gain full control over payment operations.

  3. End-to-end payment solution with extensive coverage, seamless integration, and support for multiple payment channels. 

  4. Provision of two portals: Merchant app portal and Admin app portal.

  5. Detailed reports and financial management for merchants enabled merchants to gain insights into transaction volumes and efficiently manage their finances.

  6. Incentivized adoption of the payment aggregator solution through discounts based on transaction thresholds for merchants and customers increased merchant engagement. 

Challenge

Our client, a prominent petroleum company, faced a significant challenge due to their reliance on a third-party payment provider, which imposed extensive commission fees on each transaction conducted by their merchants. These fees significantly impacted on the client’s operational costs, necessitating a cost reduction.

To address this issue and gain full control over their payment operations, the client desired to develop its own payment aggregator solution and the purpose was to eliminate dependence on external organizations and provide full control of payment operations for vast users.

Solution

To overcome the challenges associated with dependence on external organizations, we provided them with an end-to-end payment solution called payment aggregator solution. This solution provided the company with extensive coverage, seamless integration, and support for multiple channels without upfront work. It allowed customers to choose from various online payment modes, whether payment is by credit card, debit card, net banking, wallet, all under one system.

The implementation of the payment aggregator solution allowed merchants to access detailed reports on the volume of payment transactions occurring on a daily, monthly, and yearly basis, making it easier for every merchant to manage their finances and reconcile each merchant accounts. These solutions have wordpress and Javascript plugin to integrate the merchant site

The payment aggregator solution included the following components: 

Merchant app portal: Empowered merchants with detailed reports on payment transactions, facilitating financial management and account reconciliation. 

Admin app portal: Provided administrative control and oversight over the payment aggregator solution. 

Here is the workflow of Payment Gateway Work-  

The payment aggregator is designed to be a top-to-bottom payment solution. It establishes fees based on merchant account transactions while also incentivizing our client’s merchants, stakeholders, and end customers with discounts. The aggregator offers discounts based on certain transaction amounts, which are applicable to all end users. When customers reach a designated transaction threshold, they receive discounts, and the same threshold applies to the outlets where they make their purchases. These outlets also receive discounts on their transactions with their respective merchants, the same model applies for the merchants with our client. This creates a win-win situation, benefiting all parties involved. This approach effectively encouraged the adoption of the payment aggregator solution by providing compelling incentives.  

PaymentGateway

Benefits

Efficient Payment Operations and Compelling Incentives Drive Adoption

Benefits of using payment aggregator, for startups to large businesses is huge, as demonstrated by the remarkable benefits we recently provided to the company and its stakeholders: 

Multiple Payment Gateway Integration: Seamlessly integrate with various payment gateways, expanding customer reach and enabling acceptance of diverse payment methods.  

Payment Tracking and Reporting: Access detailed reports on payment transactions, facilitating efficient financial management and account reconciliation. 

Intuitive User Interface: The client’s payment aggregator solution was designed with a user-centric approach, providing a seamless experience for both merchants & customers enhancing satisfaction and conversion rates. 

Merchant Fee Setup: Monetize the payment aggregator solution by offering it to other businesses, tapping into a new market and establishing a sustainable source of income. 

Simple Integration System: Easily integrate with a range of other systems, streamlining the payment process and simplifying business operations.  

Result

Upon the project completion, our client received a robust payment solution to accept online payments from customers.  The implementation of the payment aggregator solution resulted in several significant business outcomes for the company: 

Streamlined Payment Operations and Cost Reduction

By consolidating multiple payment methods into a single interface, the company achieved greater efficiency in its payment operations. This consolidation eliminated the need to rely on third-party providers, resulting in cost savings and full control over financial transactions. 

The integration of multiple payment methods with faster and hassle-free payment processing customers were able to make payments with added convenience and flexibility, ultimately resulting in heightened satisfaction.  

Improved Security and Fraud Protection 

The payment aggregator solution incorporated advanced security measures to safeguard sensitive payment data.  

Implementing a secure payment aggregator for e-commerce, as well as various other online businesses can foster customer trust while minimizing the potential for fraudulent activities and chargebacks.  

Full Control over the Payment Process and Customer Data

The payment aggregator solution provided the company with complete control over the payment process and customer data privacy. 

This ensured complete visibility and management of financial transactions, empowering the company to make informed decisions and maintain data privacy. 

Overall, the implementation of the payment aggregator solution brought tangible benefits to the petroleum company. These positive outcomes prompted the client to continue investing in the solution, paving the way for future expansion and innovation in the payment aggregation space, demising the need of third-party Payment Aggregator Providers. 

Services We Provide 

Brain Station 23 is focused on delivering tailored services to meet the unique needs and expectations of their clients. Here we provided Unipet  Solutions to our client. 

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