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| Thought Paper |
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Streamlined Online Payment Processing using Oracle iPayment |
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| Abstract |
Increased transaction security measures have enabled e-Commerce transactions -
transactions using Credit/ Debit Cards (Plastic money) - to emerge as a dominant payment
mode. The inherent inefficiencies in payment processing and account reconciliation
processes limit the efficacy of conventional Point-of-Sale systems used by merchant
organizations. These inefficiencies are further accentuated due to issues pertaining to
system robustness, data security and spurt in transaction volumes. Therefore, seamless
integration of plastic money transactions with the enterprise wide software applications
becomes a critical need.
Users of Oracle Applications can explore the deployment of an inbuilt module - Oracle
iPayment - to immediately address these concerns and improve the effectiveness of their
payment systems. Oracle iPayment enables online processing of Credit Card / Purchase
Card transactions and Electronic Fund Transfers. It integrates with both Electronic
Commerce (EC) applications as well as client / server applications.
This paper brings into focus Patni's solution for real-time payment processing based on
Oracle iPayment and provides the information necessary to understand and implement
Oracle iPayment solutions.
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