How QSoft helped the company to save valuable time and reduce their workload by acting as a single point of contact to connect with vetted IT talents, making the sourcing process more efficient and effective.
Our client operates a large, established B2B marketplace platform that connects businesses internationally. While successful, their platform was burdened by outdated payment systems that were slow, region-specific, and lacked the modern features necessary for today’s fast-paced global commerce.
The primary goal was to overhaul the client's payment infrastructure to streamline transactions, enhance user experience for international buyers and sellers, improve security, and enable new revenue streams.
We began by collaborating closely with the client to audit their existing payments stack. This phase helped identify key pain points and map out detailed requirements in consideration of the regulatory constraints affecting various regions.
We adopted a microservices architecture to isolate payment logic. This approach allowed for enhanced flexibility, scalability, and the capability to update independently as regional regulations evolved.
Our strategy included integrating with leading global payment gateways and regional providers, ensuring comprehensive coverage and maximizing transaction success rates.
We implemented state-of-the-art fraud detection systems, utilizing machine learning models trained on vast historical transaction data to minimize risks.
The development process was managed through agile methodologies, supported by automated testing and deployment pipelines. This setup not only ensured high-quality output but also significantly reduced time-to-market.
We employed a phased rollout strategy, introducing new payment features region-by-region. This approach helped mitigate risks and address local complexities effectively.
The integration of a diverse range of payment methods and multi-currency support enabled the platform to expand its user base, reaching previously inaccessible markets. This broadened access resulted in a 30% increase in active users and a notable expansion in the client's international footprint.
The implementation of intuitive user flows for payment transactions and the addition of features like real-time currency conversion greatly enhanced the user experience. Feedback collected post-launch indicated a 40% improvement in user satisfaction scores relating to payment processes.
With the new system, compliance with high-security standards such as PCI DSS was achieved. Our robust fraud detection and risk management systems led to a 70% reduction in fraudulent transaction rates, enhancing trust and reliability among platform users.
The financial dashboards provided comprehensive analytics and reporting tools that allowed both the client and their sellers to better understand their sales patterns and financial health. This feature has been instrumental in enabling users to make informed business decisions, contributing to an overall 25% increase in sales revenues for active sellers.
The system's ability to handle surges in payment volume was successfully tested during the first major promotional event following implementation. The platform managed a threefold increase in transaction volume without any degradation in performance, thereby avoiding potential sales losses during critical periods.
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