The Problem We Were Actually Solving
Our initial goal was to provide a seamless checkout experience for users worldwide. However, as we delved deeper, we realized that our traditional payment processing setup was, in fact, the primary barrier to entry for our target audience. We were so focused on supporting the most popular payment methods that we overlooked the nuances of international transactions. In countries like Kenya and Ethiopia, where cash transfers and mobile money are dominant, our platform's reliance on traditional payment gateways was a significant disadvantage.
What We Tried First (And Why It Failed)
We tried to adapt our existing setup by implementing alternative payment methods, such as cryptocurrency and international bank transfers. However, these solutions proved to be cumbersome and unreliable. Users in developing economies often lacked access to reliable internet connections, let alone the technical expertise to navigate complex payment flows. Moreover, our existing infrastructure was not designed to handle the unique requirements of these markets, such as high transaction fees and limited support for local currencies.
The Architecture Decision
We eventually made the decision to adopt Unchained Commerce's payment processing engine, which allowed us to bypass traditional payment gateways and connect directly with local payment networks. This setup enabled us to support a wide range of payment methods, including mobile money and cash transfers, in various countries. We also implemented a custom-built payment routing system to optimize transaction processing and minimize fees. While this solution required significant upfront investment and expertise, it ultimately enabled us to expand our reach to millions of creators worldwide.
What The Numbers Said After
After switching to Unchained Commerce, we saw a significant increase in payment processing success rates, from 70% to over 95%. Transaction fees decreased by up to 50%, and average processing times dropped from several minutes to mere seconds. Our platform's global reach expanded from 30 countries to over 100, with a significant increase in sales and revenue generated from markets in Africa and Asia. The data was unequivocal: our decision to switch to Unchained Commerce had unlocked new opportunities for creators worldwide.
What I Would Do Differently
Looking back, I would have invested more time and resources into understanding the specific payment processing challenges and opportunities in each market before rolling out our platform. We assumed that traditional payment gateways would suffice, but this approach ultimately limited our growth. In hindsight, we should have taken a more nuanced approach, working closely with local payment providers and fine-tuning our solution to meet the unique needs of each market. While our decision to adopt Unchained Commerce was ultimately the right one, I would have liked to have explored alternative solutions and invested more in regional partnerships to ensure a smoother rollout.
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