A Case Study on Integrating Moneris Payment Gateway in Odoo ERP
Disclaimer: The name of the client and his firm has been changed to protect privacy.
FashionFiesta is a famous Canadian eCommerce business owner in Toronto, Canada. The company offers premium quality and a diverse range of apparel catering to various users’ fashion styles and preferences. While expanding the business by offering new clothing lines, accessories, and footwear, our client faced critical challenges in his online payment processing.
Limited options for online payments, no regional availability, high transaction fees, no support for Interac Debit, limited local customer support, and compliance issues with Canadian regulations are a few of the challenges faced by our clients. He wanted to integrate a Canadian payment gateway into his Odoo-based eCommerce platform.
To resolve all these challenges, he was looking for Odoo consulting to integrate a new payment gateway. While looking for a reliable Odoo development partner on Google, FashionFiesta partners with Space-O Technologies. If you are curious to learn how we helped FashionFiesta, read this case study.
Challenges Faced by Using an Outdated Payment System
Our client expanded their business across North America. The client wanted a smooth and powerful payment system, which could manage thousands of transactions at a time.
Limited Payment Acceptance: The existing payment system of our client was only accepting limited credit cards. Restricting our client to potentially cater to a larger group of customer base. Additionally, limiting revenue streamers from alternative payment methods like digital wallets and buy now, pay later (BNPL) options.
Compliance Issues with Canadian Regulations: The lack of compliance with Canadian regulations results in a violation of data privacy and financial laws.
No Support for Interac Debit: The absence of Interac Debit support in our current payment processing system has led to abandoned carts.
Limited Local Customer Support: The existing payment processing solution of our client wasn’t offering local customer support as they didn’t have physical offices in Canada.
Security Vulnerabilities: The struggle to provide high-level security in customer data and payment information results in a lack of customer trust.
Cumbersome Checkout Process: The complicated and slow checkout process led to high cart abandonment rates, resulting in staggering losses in potential sales and decreased conversions. All this impacts the bottom line and growth trajectory.
Scalability Limitations: The existing payment system is required to meet the evolving requirements of the transaction volumes. Additionally, it hinders the capability to meet the market opportunities and sustain growth momentum.
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Integrating Moneris into Odoo ERP: An Ultimate Solution to Improve Payment Processing
At Space-O Technologies, our Odoo consulting experts have experience in integrating industry-leading payment gateways like Moneris, a leading payment processing company. After a detailed requirement analysis of our client, we suggested integrating the Moneris payment gateway into their Odoo eCommerce platform.
Expanded Payment Acceptance: We incorporated Moneris in the eCommerce solution of our client as per requirements. This integration helps our clients accept payments from debit cards and digital wallets, which include Visa, MasterCard, American Express, Discover, Interac Debit, and JCB. Furthermore, our client could accept alternative payment methods. This includes buy now, pay later (BNPL) options. Accepting diverse payment methods helps cater to a broader customer base.
Streamlined Checkout Process: Our Odoo specialists integrated an intuitive checkout experience for customers with a user-friendly interface and secure payment processing. This reduced cart abandonment rates resulted in higher conversions and maximized revenue capture.
Automated Reconciliation: Our engineers simplify the reconciliation process by automating the synchronization of payment data with Odoo ERP. This reduced manual labor, minimized errors, and offered real-time visibility into financial data. Automated reconciliation makes it possible for more accurate financial reporting, data-driven decision-making, and flexible company operations.
Robust Security Measures: Moneris payment acquirer adheres to the highest security standards, including PCI-DSS compliance and standards. Customer data and payment information are protected at all times. Safeguarding our client’s company reputation, customer trust, and regulatory compliance, and avoiding potential legal and financial repercussions.
Scalability and Flexibility: We designed a scalable and adaptable architecture to handle growing transaction volumes and changing client requirements. Thus, the client can take full advantage of market possibilities and maintain the momentum of their growth.
Improved Customer Experience: The Moneris connection made it easy and safe for customers to make payments, promoting customer satisfaction, favorable evaluations, and increased brand loyalty. These factors contributed to long-term growth, client retention, and effective word-of-mouth marketing.
Personalization and Branding: We adjusted the Moneris integration to meet our client’s specifications and brand. Additionally, we made it a tailored solution that reinforced their brand identity and provided a consistent customer experience across touchpoints.
Tokenization and Secure Card Storage: Tokenization and secure card storage offer important features. This method allows customers to save payment information securely and makes future purchases smoother and easier.
Advanced Fraud Protection: This integration of Moneris payment acquirer with Odoo 17.0 offers better security measures like Address Verification Service (AVS) and Card Verification Value (CVV) checks. These precautions reduce financial losses and any legal procedures by protecting the client and the end users from fraudulent activities.
What is the Process of Integrating Moneris Within the Odoo ERP Platform?
As an experienced software development company, we understand the importance of smooth payment integration for your eCommerce solution. Here is a complete process.
We first understand your specific requirements regarding payment processing and via which method you want to connect Moneris to Odoo (custom API integration or use a hosted payment page) within your Odoo eCommerce solution.
We research the Moneris Payment Gateway documentation to understand its APIs, authentication methods, and transaction flow. We configure your Moneris account with the necessary settings and obtain the API credentials required for integration.
We set up a development environment to ensure that integration work does not impact your live eCommerce site. This environment closely mirrors your production environment, allowing us to test and debug without affecting your customers’ experience.
Using the flexible architecture of Odoo and APIs, we develop custom modules or extensions to integrate Moneris Payment Gateway within your eCommerce platform. This involves implementing payment processing logic, handling transaction callbacks, and providing PCI compliance for safe online transactions.
We perform testing to make sure that the Moneris integration works accurately across different scenarios, including successful payments, declined transactions, and refunds. We perform both unit testing and end-to-end testing to validate the integration’s reliability and security.
We involve your team in the UAT phase to ensure that the Moneris integration meets your expectations and business requirements. Any issues or feedback identified during this phase are addressed before moving ahead in the production environment.
Once the Moneris integration passes all tests and receives approval from your team, we deploy the changes to your production environment. We monitor the deployment process to minimize any downtime and ensure a smooth transition.
Revolutionize eCommerce Payment Processing with Space-O Technologies
If you are running an eCommerce business, and looking to streamline your payment process, expand your customer reach, and offer flexible payment options, contact Space-O Technologies today. Our Odoo experts understand your unique requirements. Based on your requirements, our Odoo professionals integrate the Moneris payment processing solution.
By using Moneris’s advanced payment processing capabilities combined with the eCommerce module of Odoo, provides a smooth checkout, multiple payment acceptance, flexible recurring billing, and streamlined reconciliation.
Our solution positions your business for long-term eCommerce success. Additionally, we allow you to diversify revenue streams, encourage customer loyalty, and sustain rapid momentum.
With Odoo-Moneris integration, upgrade your eCommerce business by offering better customer experiences and driving exponential business growth. Get in touch with Space-O Technologies to revolutionize the payment experience of your end users.
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Rakesh Patel
Founder and CEO of Space-O Technologies (Canada)
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