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Aditi Saha

Open Source Payment Platform

Most people think that an open-source payment gateway technology is completely free of charge. For example, an open-source solution is a way to accept payments online for a startup business without a budget. However, this is not the case.
Regarding payment processing, there aren’t any open-source payment platforms available to be free of charge.
Even if you “stumble upon” a free open source payment gateway, it will have to maintain a PCI-compliant environment (annual PCI audits cost around $20–25K). You will have also to deploy the product within a cluster. That said, that you will need to maintain at least 4–5 nodes (for your database, etc.). Plus, you’ll have to build a new acquiring bank relationship. Consequently, you will have to go through an acquirer integration.  Then you need to devise a mechanism for merchant onboarding and provisioning, and payment reconciliations. Further, if you require new terminal solutions, this will entail new integrations and EMV certifications.

Why an open-source payment platform is a great option for businesses

First of all, it’s necessary to understand that open-source payment platforms are customized and modular solutions. They allow any changes to be made to their source code.
Typically, open-source payment gateways come with basic functions. This helps developers customize payment gateways and add modules. Besides, they can expand basic functionality for online businesses and design exactly what they need most to accept payments online.
Having access to the code allows development teams to add other features to the payment software without a hitch. For example, they can add more payment methods, which allows for the expansion of businesses more widely abroad.

How UniPay Platform works

As to the UniPay Gateway, this is a white label open-source payment processing solution. It offers many advanced features that are important for modern businesses. They include support of 3D Secure, EMV, P2PE,  different types of payment cards, and ACH transactions. UniPay allows also to process international payments through numerous global integrations, and more.
The software package includes integration logic and different PayFac-oriented features. Among them, multiple integrations already implemented recurring billing-related features, and chargeback management logic. With access to the open-source code of UniPay, you get a reliable EMV terminal solution and an omnichannel mobile payment solution. You can also license the respective software, and access the code customized according to business needs.
Some of UniPay’s users are among Fortune 500 companies.  The main advantage of our platforn is that UniPay is not only targeted at large enterprises. Our product has offerings even for those who can only afford a relatively small monthly fee.

How to use a payment gateway online?

There are 2 important factors involved in online payment including payment gateway and payment processor.
1. Customers go to your online store and want to order/buy an item. They will put their card details on the checkout page to buy the item.
2. The payment gateway will receive the transaction details through the checkout page and then has a function to authenticate all the customers’ information and transmit it to the payment processor.
3. The payment processor receives the transaction details and sends them to the buyer’s bank, together with checking the legitimation and buyer card’s credit limit.
4. The card issuing bank accepts or rejects the transaction and transmits the information to the payment processor.
5. The seller’s payment processor transmits the details back to the payment gateway. So if the bank approves the transaction, the seller will receive the approval information through the payment gateway and proceed with the purchase.
6. The card issuing bank releases funds to the seller’s bank and the cash will be transmitted to the seller’s account.

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