The Problem We Were Actually Solving
At first glance, it seemed like a classic problem: "How can we accept payments in restricted countries?" However, I quickly realized that this was not the actual problem we were trying to solve. The real challenge was finding a payment gateway that could handle high transaction volumes, offer competitive pricing, and provide low latency. Our SLA for payment processing was 500ms, and our growth plans assumed at least 5000 transactions per hour.
What We Tried First (And Why It Failed)
We started by researching alternative payment gateways, such as Wirecard, Bank Transfer, and Crypto Payments. However, after speaking to several suppliers, I realized that each of them had significant drawbacks. Wirecard's fees were too high, Bank Transfer was too slow, and Crypto Payments were still plagued by regulatory issues. Most critically, they all lacked the scalability and reliability that our system required. We tried using several services, including Paystack and Flutterwave, but their infrastructure was simply not able to handle our traffic.
The Architecture Decision
After much research and prototyping, we decided to use a custom-built solution based on cryptocurrency payments. Specifically, we integrated Chainlink Keepers with the Ethereum blockchain to enable fast and secure transactions. Our system uses Chainlink's automation protocol to validate payments, ensuring that transactions complete within our 500ms SLA. By using a decentralized system, we avoided the issue of relying on a single, central authority and ensured that our users had complete control over their funds.
What The Numbers Said After
After deploying our custom-built solution, we observed a significant improvement in payment processing times. Our average transaction latency dropped from 2.5 seconds to 350ms, and our growth plans are now possible without sacrificing performance. Moreover, our users love the flexibility and security that crypto payments offer. We've also seen a significant reduction in errors, with fewer failed transactions and a much lower rate of chargebacks.
What I Would Do Differently
In hindsight, I would have made a few changes to our implementation. First, I would have deployed a more robust caching strategy to prevent Chainlink Keepers from experiencing downtime during periods of high traffic. Second, I would have integrated a more advanced fraud detection system to minimize chargebacks. Finally, I would have implemented a more granular pricing model to ensure that our costs remained in line with our revenue growth.
Ultimately, selling online courses without Podia or Teachable using crypto payments is not just a work-around for a platform problem. It's a well-designed, scalable solution that provides users with the flexibility and security they deserve.
Top comments (0)