Merchant Onboarding Solution for a Payment Processing Behemoth

146 Countries

31MN Transactions/Day

1 Goal: Seamless Merchant Onboarding

For payment service providers, acquiring merchants is only half the battle. To be effective, they must onboard and engage them with the help of an intuitive interface while maintaining an overall view of the end-to-end processes. So, when our client wanted a comprehensive strategy, business function consulting, digital technology, and delivery execution know-how to enhance visibility into their operations, we knew that this dynamic solution will set the future course of the value chain.

Benefits

Snapshots

Challenge

No end-to-end tracking of onboarding status of merchants; manual entry of data; huge number of customer touchpoints; lengthy application process.

Solutions

Implemented an intelligent, customer-centric ESB solution using Software AG project suite to facilitate simple and instant merchant onboarding; automated infrastructure to curb manual labor and enable operational efficiency.

Benefits

Strengthened merchant onboarding process; enhanced customer service; improved service cycle time; increased productivity.

Key Challenges

The merchant onboarding process was frustratingly siloed, causing an inordinate delay of around 11 days in completion of the application process. There was no end-to-end status monitoring process, which choked operational excellence and threatened business growth.

Existing data entry systems were painfully slow and manually-driven, which resulted in dissipation of time and rampant inaccuracies in the transaction-based data. This was an extremely precarious situation because data inconsistency was proving to be detrimental to user privacy and business reputation in general.

Customer journeys were tediously long and cumbersome, stretching across a huge number of touchpoints and channels. This led to excessive service delays lasting up to days or weeks, and poor customer experience.

Our client is a global payment processing giant with an operational footprint across 146 countries and a sustainable ecosystem of over 400,000 clients. Supporting omnichannel payments in over 126 currencies and handling a whopping 31 million transactions a day, our client has an unparalleled service portfolio and strong performance legacy to boast of.

Our Solutions

We conducted a thorough assessment of the client’s current-state processes and systems and implemented a robust, out-of-the-box ESB solution based on Software AG’s product suite. This helped in streamlining their business operations through automation and profile management, supporting real-time onboarding stats via STP workflows, and amplifying customer experience.

Our team also improved underwriting, increased productivity, and reduced system gaps in the entire merchant onboarding supply chain with rules-based engines and business process management. The product, pricing, and customer-based mechanics was rationalized to cut the length of customer timelines from 11 days to just two days.

We also developed agile, high-performance APIs for multiple key functions, including Underwriting, Boarding, Terminal Management, and Pricing among more to enable instant processing of transactions in near real-time.