If you are planning to build a payment
solution for your business, then i need to make sure that it
satisfies all the requirements of one. Building a payment solution is
different from building an app or a solution for the entertainment or
the travel industry. This is because to use a payment solution, a
customer needs to trust it more than the established players out
there.
This means that your website needs to
have the right security credentials for it to be taken seriously by
the user. This brings us to the first requirement, namely the PCI-DSS
certificate. PCI-DSS is short for payment card industry - data
security standard and is the security compliance that is accepted and
recognized by almost all payment card users as a benchmark for
security. It provides a framework for the prevention, detection and
proper reaction to security incidents.
When you make a payment solution, you
need to ensure that the user has multiple options to make his
or her payment. Does your payment solution offer support for all
debit, credit cards? Does it support Cash cards, netbanking and
mWallets? Does it support email invoicing and IVR payments?
Your payment solution needs to provide
the user with the ability to make fast and secure payments without a
website. This is made possible with email payments where you
can just send an email to your customers asking them to click and
pay. Also make sure that your payment solution has mobile payments
integrated with intelligent APIs that determine your handset and
browsing in real time.
MPI Integration is another
important feature that you need to enable if your online payment
solution is to attract customers. The MPI feature enables your
payment solution to run on any technology or platform. And once you
incorporate validation functionality with the merchant web pages and
make password authentication and cardholder verification integral to
your payment process, you can well claim to have a complete payment
solution.
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