Build Your Own Payment Processing System

Are you looking for a payment processing system but you cannot select the appropriate solution for your business due to your location, absence of prior processing history or any other reason? So why not build your own payment processing system then? Does not sound realistically? Yes, it is complicated, but it is possible.

There are just two things which you will have to put together – a wallet and a gateway. A wallet will be used to store payment data of your clients and a gateway – to process payments through it. Now there is a choice: you can either develop both of them from scratch or license white label open source solutions. Today the second option is very often chosen by merchants due to the numerous advantages it possesses. First of all, it is cheaper and faster. You will have to wait a long period of time until you payment processing software will be developed and, consequently, significant investments will be required.  What is more, with licensed open source solutions you will automatically obtain the high quality support, so whenever problems occur you can be sure that there are people who will help you to solve them.

The next logical step is to provide you with the examples of such solutions. Unfortunately, we do not have the example of the wallet but we have a great example of a payment gateway. UniPay Payment Management Platform is a white label open source payment processing solution. It is integrated with platforms all around a globe and provides the ability to accept and process international payments. UniPay Gateway is a secure solution which supports 3D Secure for card not present transactions, P2PE and EMV for card not present transactions and many other fraud protection mechanisms. With UniPay you will get the opportunity to process different types of card payments (credit, debit, gift cards) and ACH transactions (more information about this solution is available at the web site). Additional information on open source payment processing solutions available at the market can be found at #Paylosophy (visit the educational portal).