endorsedCompleted

Online Payments Platform Development

Services Covered:

Custom Software Development

Industry

Financial Services

Duration

39 months

Budget

200K - 999K

Start Date

1 May 2017

Team Size

6-10 Employees

Engagement Model

Offshore

Project Capability Score (PCS)

74/100

Good

Project Capability Score (PCS) estimates how capable INSART is of successfully delivering a project like this, based on its past experience, track record, and ability to handle similar work. Learn more about PCS

Client

Confidential

Kyiv, Ukraine

Project Summary

INSART developed a secure, reliable, and scalable online payments platform, implementing DDoS protection and transaction reconciliation. Over three years they built the system from scratch; it now serves 250,000 clients and processes more than 2,000 transactions per day (up to seven transactions per second). The client praised the team's proactivity and was extremely satisfied; the platform complies with PCI DSS.

Key Challenges

Need to integrate with payment processors and enable online payments without an app or physical store
Deliver a secure payments platform with an easy and intuitive interface
Develop the product from concept to market while identifying and avoiding business pitfalls
Ensure the platform is reliable, highly available, and scalable

Project Deliverables

Business analysis and project charter
Software requirements specification (SRS)
Java-based payment platform
Mass payments feature
Payments for goods and services module
Internal currency exchange
Internal settlements system
API for online shop integration
DDoS protection implementation
Data backup and replication
Transaction reconciliation
PCI DSS compliance

Project Solution

INSART performed business analysis and created a detailed Project Charter and SRS, then implemented a Java-based payments platform from scratch. The team developed features including mass payments, payments for goods and services, internal currency exchange and settlements, and an API for integration with online shops and services. They implemented DDoS protection, data backup and replication, transaction reconciliation, and ensured compliance with PCI DSS. A dedicated team (project manager, business analyst, technical lead, three developers, and QA) managed development using Agile with two-week sprints initially, then task-priority driven work after first release.

Project Outcome

In three years the system was developed from scratch and remained live for two years after first release
The platform has 250,000 clients
Processes more than 2,000 transactions per day and up to seven transactions per second (about 25,000 per hour)
Platform complies with PCI DSS
Automatic balance verification saved the system owner hundreds of thousands of dollars
Supports multiple currencies including US dollars, Euros, British pounds and Bitcoin
Client reported 100 percent satisfaction and praised the team's proactivity

Platforms

Web
API/Integration Platform

Tech Stack

Java
REST API

Client Endorsement

Overall Review Rating

Timeliness

Cost Rating

Willing to Refer

Quality of Deliverables

“In three years, INSART developed the payment system from scratch. To date, the system has 250,000 clients and processes more than 2,000 transactions per day. The client was extremely satisfied with the outcome. The team was described as proactive and cooperative.”
Anonymous
CEO
Date: 12/10/2020