Payment Integration Hub: unlock the power of digital payments
In an increasingly digitized and interconnected world and thanks to digital payments, consumers are now accustomed to making purchases through digital channels, at any time of day and via any device. Even in the world of in-store retail, users expect an experience that is as close to digital as possible once they have chosen their products. In other words, the checkout and payment phase should be as simple and immediate as it is online.
There are more and more digital payment methods, both in terms of providers offering similar services and in terms of electronic tools to support them. Users may have several payment methods available, but generally have their own preferences, which may be dictated by the type of product, payment amount, or other personal reasons. Because of this, it is important for companies to equip themselves with tools that allow the user to make the purchase using their preferred payment method.
To address this need, Mia-FinTech has created the Payment Integration Hub, an end-to-end solution now available within Mia-Platform Marketplace. Let’s see in detail what it is all about.
Payment Integration Hub: more than just a payment gateway
The Payment Integration Hub is an end-to-end solution for managing the entire digital payments lifecycle. Not only does it support all major digital payment methods, but it also provides a customizable white-label front-end interface, a backoffice for transaction tracking and management, and the ability to easily integrate with other providers.
This provides end users with an excellent customer experience, allowing them to choose their preferred payment method directly from the application. From your side, you will have the details of each transaction in one place, thus ensuring a high level of governance within the organization.
The Payment Integration Hub is a reliable, comprehensive, and flexible solution. Reliable because it is already in use in production environments of projects belonging to different industries. Comprehensive because it covers the entire digital payment lifecycle and also offers solutions to easily manage recurring and BNPL (Buy Now Pay Later) payments. Flexible because it is designed following the view of a Composable Architecture, so it can be customized according to specific needs.
Supported digital payment providers
The Payment Integration Hub supports more than 10 payment providers, including:
- Google Pay;
- Apple Pay;
- … and many more.
It also provides APIs so that any other digital payment method can be easily connected. Through simple configuration, it will be possible to connect physical and digital POS to the Payment Integration Hub. With this feature, it is possible to easily integrate with external ERP systems and unify within the platform all payments received by the company.
Transaction monitoring and management
The Payment Integration Hub provides a backoffice application. Thanks to it, the status of all transactions can be monitored in real-time.
In addition, from this section it is also possible to directly perform some actions on transactions. Every action is recorded, and the log record is on the detail page of each transaction to ensure maximum security. The main actions available include:
- Perform a partial reversal;
- Perform a total reversal;
- Download the related invoice;
- Send the invoice to the customer;
- Send notifications to the customer.
It will also be possible to configure roles with different permissions to be assigned to internal operators, achieving a high degree of granularity. For example, you will be able to restrict the ability to perform reversals to only a small group of people, or create subgroups each dedicated to a different payment method. There are many possibilities for customizing the level of privacy to suit every need.
Finally, you can set your own KPIs and create dashboards for real-time monitoring. The configuration of KPIs is fully customizable according to specific requirements.
In addition to the backoffice part, which is critical for control by the organization, the Payment Integration Hub provides an extremely flexible white-label front-end interface for end-user interaction. Thanks to its composable approach, this component may not be implemented if another front-end solution is already in use.
The front-end interface is entirely customizable graphically. By inserting the colors and logo of the organization, this element will be perfectly consistent with the company’s assets. Integration within your own site or app, then, is quick and easy, as you will simply need to set up a redirect to the front end provided by the Payment Integration Hub.
With the adaptive checkout feature, custom logic can be applied to make the user display only certain payment methods based on given parameters (user type, product type, total amount, channel). The logic that governs adaptive checkout is configurable directly from the backoffice, via an easy-to-use graphical interface and without the need to involve development teams.
But that’s not all, because the customization possibilities are many more. From language to layout, from payment flow to billing; the front-end interface offers all the flexibility a modern payment system requires.
Security and Compliance
The Payment Integration Hub complies with security protocols in digital payments. All data regarding payment details (credit card number, CVV, etc.) is handled solely and directly by the service provider. Such data is not saved either on Mia-FinTech’s systems or on those where it is installed. Thus, everyone can implement the Payment Integration Hub without having to worry about directly managing payment security.
The service provider supplies the Payment Integration Hub with a unique ID that allows it to identify each individual transaction. Through this ID it is possible to view from the back office the status of the transaction and the user who executed it. This ensures user privacy while maintaining a high level of governance.
How does the Payment Integration Hub work?
The Payment Integration Hub is an end-to-end solution, covering all stages of the payment process. To better understand how it works, let’s take the example of a customer making a purchase through an organization’s website.
Once the order flow is completed, the customer lands on a page where the Payment Integration Hub front-end interface is present. This page will show the available payment methods and all the customizations previously configured through the backoffice.
The user at this point selects the payment method they wish to use. Then, the user is redirected to the selected provider’s systems, which processes the payment.
At the end of the process, the provider notifies the outcome of the transaction to the Payment Integration Hub, which provides confirmation to the user via the front end.
At the same time, the transaction is recorded on the backoffice system. The organization’s operators can view it in real-time and, if necessary, perform reversal operations or send notifications to the user.
The Payment Integration Hub is more than just a payment system: it is a full end-to-end solution that covers all stages of digital payment and offers great flexibility in terms of customization and integration possibilities.
Thanks to the Mia-FinTech team, the Payment Integration Hub is now available on the Mia-Platform Marketplace. Sign up for Mia-FinTech’s newsletter so you don’t miss any updates on this and other fintech-related initiatives!