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RNDpoint FinTech Development Company
Home Fintech Stripe Payment System Integration

Stripe Payment System Integration

3x acceleration of the integration process and 2x lower development costs with the help of our proprietary software ProcessMIX.

Executive summary

Client Profile 

The Client is a software service provider specializing in mobile app development for the B2C market segment. The customer’s name is NDA-protected, so it will be referred to as the Client in the case study. 

Challenge

The Client turned to RNDpoint with a request to integrate a payment system to support a subscription-based business model in their products. 

Value delivered

We completed the project with the help of our proprietary software ProcessMIX. It resulted in 3x quicker and 2x cheaper Stripe system integration as compared to previous implementations that the Client has experienced.

Case_Stripe Payment System Integration_1

The success story in detail

Business challenge

The Client needed to build the subscription architecture for its app from scratch. The decision to opt for a subscription-based service provision format was driven by the need to be more flexible in apps’ monetization model and enable a stream of recurring revenue from their applications.

The company decided to engage an external FinTech software provider. The RNDpoint was chosen because of its in-depth expertise in payment system integration.

Keeping the Client’s business goals in mind, the RNDpoint team faced the need to implement the following technical solutions to the Client’s infrastructure: 

  • Choose an optimal payment gateway for the Client’s requirements. 
  • Integrate the payment system for subscription coverage to the Client’s app. 
  • Configure customizable subscription settings. 
  • Introduce an opportunity to upgrade or cancel subscriptions. 
  • Develop discounts and free trial functionality.
  • Add the automated recurring payment feature. 

RNDpoint’s experts had to build the payment system flexible and configurable enough to allow the Client’s team to make adjustments without involving external software specialists. 

Case_Stripe Payment System Integration_2

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Implementation

The first step of RNDpoint was made to use Stripe as the preferred payment system. 

Stripe’s integration into the Client’s software infrastructure was done with the help of RNDpoint’s proprietary product ProcessMIX, a flexible back-end low-code platform, that ideally matched the needs of this project. 

The RNDpoint engineers developed a customizable flow for ProcessMIX and Stripe interaction. In technical terms, the subscription process was divided into sub-processes, each requiring a separate data model for interaction with Stripe. 

Case_Stripe Payment System Integration_3

The payment provider was responsible for payment data and subscription activation, implemented via a secure API connection. 

The integrated subscription payment system presupposes monthly recurring payments. If the payment method used for the initial subscription doesn’t work, the Client sends users a notification to change their payment method or retry the payment. Users can cancel, downgrade, or upgrade their subscription plans at any moment.

Case_Stripe Payment System Integration_4

Result

As a result of using the ProcessMIX toolkit, the Stripe integration process was primarily simplified without the need to resort to extensive backend development. The whole app functionality was preserved without limitations. 

The RNDpoint team’s outcomes were a 3x reduction in implementation turnaround and 2x lower development costs. 

RNDpoint experts managed to attain the Client’s project requirements in full: 

  • The Client received a fully automated subscription process, allowing flexible addition and removal of paid products without the tedious subscription cancellation and reactivation procedures. The system recalculated the due payment depending on the number of days the initial subscription was used. 
  • The resulting system covered all possible subscription-related actions, such as initiation, cancellation, renewal, upgrade or downgrade of subscription plans, and extension of current subscriptions. 
  • The Client brought the customer churn rate to a minimum by integrating the subscription model smoothly without urging the current customers to re-purchase services. 
  • The system’s architecture was built with flexibility in mind, allowing the Client’s staff to configure subscription plans and terms in line with business or technical changes.

 

IndustryFintech
ExpertiseBanking, Integrations, Payment systems
technologiesProcessmix, Stripe's API integration tools
locationWestern Europe
timelineAugust-September 2022
RNDpoint has good, qualified developers. They understand FinTech perfectly, and they have excellent experience in this area. They’ve developed a lot of software for banks. On our project, they performed very well. Their management team is a pleasure to deal with and makes working with them simple.
Oleg Lipunov
Abiatec
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