Definition of Payments Processing
As Core User Group (FabCity, FabLab/SME, Designer) I want to choose from a selected set of pre-defined and relevant PSPs (payment service providers) in order to check out from the platform and follow my project.
Precondition: will our shop solution already consider a PSP?
General pointers:
- Checklist Financials
- Check with budget, how high will our margin be? (pricing)
- How is pricing defined (from the perspective of the PSP)?
- How is the entire cost cycle defined (across contract cycle)?
- How dependant are the costs from our sales results?
- Is there a contingency process in place?
- What is the (minimum) contract duration?
- What costs are charged in case of returns?
- How much does the system integration cost?
- How many transactions do we approximately expect (per month)?
- What are the custodian
- Checklist Payment Service
- How are our customers? (or customer groups) What types of payment do they prefer?
- How many payment services do we wish to integrate? (at least 2+)
- Which payment services does the PSP provide? (e.g. PayPal)
- Is it necessary to provide for credit card payments that requires a PSP with PCI-DSS?
- Do we define for payments internationally? (outside the EURO zone?) If so, do we integrate a dynamic currency exchange mechanism (DCC = Dynamic Currency Conversion)?
- How long is the pre-integration phase for integration of new payment methods?
- Checklist Service
- How are our service offerings (individual products defined?) Do we require a 24 h hotline or at least within a certain timeframe? Where is the customer support located?
- How do we deal with payment default?
- Which additional services our relevant to us? (risk management in realtime, service management, subscription & membership management?)
- Do we possess access to a PSP-provided reporting portal/tool? If so, can we export these reports to our system?
- Checklist for technical integration
- Which shopsystem do we use? Is the technical integration of a payment interface feasible? (or per default already considered?)
- How does the shop integration work? (Web API integration, mobile integration, plugins & extensions)?
- Does the PSP support integration? (e.g. with programming if necessary?)
Also, here are a few points that need to be addressed:
- We need to consider FIAT transactions regardless of Crypto payments
- For Crypto payments: optional or mandatory? If so, at which point? (e.g. post sign-up or check out?)