Digital Payments News Technology

Onymos Unveils New Feature To Simplify Payment Integration In Application Development

Onymos, developer of the world’s first Features-as-a-Service platform, announced the release of its new Payments Feature. Available immediately, this new Feature enables enterprise engineering teams to avoid the challenges associated with the integration of payments functionality into their applications.

As part of the Onymos Features-as-a-Service platform, the Payments Feature is the fastest and most secure way to incorporate payments into an application. With it, enterprises can quickly and easily:

  • Offer multiple forms of payment to end-users from a variety of providers — including Apple Pay, Google Pay, Stripe, PayPal — credit or debit cards, and Automated Clearing House (ACH) transfers
  • Support both one-time and subscription payments, and process refunds in a timely manner
  • Implement and maintain industry-leading security practices through pre-developed and continuously updated enterprise-grade security measures
  • Help meet the requirements of the Payment Card Industry (PCI) Data Security Standard (DSS) and Point-to-Point Encryption (P2PE)

Read: Research Reveals ‘Payment Processing As A Business’ Opportunity For Banks

“While payment functionality can be found in nearly every application today — from e-commerce to streaming — it is one of the most complicated and costly features for enterprises to integrate. It requires considerable time from engineering teams, as well as legal, security, and compliance experts during development and integration,” said Shiva Nathan, Founder and CEO, Onymos. “As part of our platform, the Payments Feature has been pre-developed to simplify all development, integration, and maintenance processes for enterprises. This includes security and compliance, basic ongoing maintenance, updates from payment, OS, hardware, and cloud providers, and more.”

By Utilizing The Onymos Payments Feature, Enterprises Can:

  • Integrate payments 12x faster and decrease costs: It can take weeks (and sometimes, months) for a team of developers to skillfully integrate all of these payment gateways into an app. This is in addition to the three to five months it typically takes to become PCI DSS compliant for various payment gateways
  • Help address complex security and compliance requirements: There is zero tolerance for security vulnerabilities in relation to payments. Enterprises must implement network and web security measures as well as those directly related to customer payments and data
  • Reduce the resources dedicated to maintenance: Integrating and using payment gateways isn’t a one-and-done effort. It involves ongoing routine maintenance, API updates, and staying up to date with ever-evolving security practices and government regulations. For instance, in 2022, just Stripe’s changelog included over 60 entries.

Read: Business Adoption of Emerging Electronic Payment Tools Is On Rise

The Onymos Features-as-a-Service platform enables application development and innovation at unmatched speed, quality, and value for enterprises across industries such as retail, healthcare, delivery, digital media and entertainment. It has a full suite of over 20 foundational app features, including login, biometrics, chat, data storage, deep links, geo-services, and notifications.These features can be easily added to new or existing applications and include the UI/UX, security, help with compliance requirements, and underlying logic that runs on the device, as well as server-side functions and integrations that process and store data in the cloud.

Browse The Complete News About Fintech : Counterpart Launches AI-Powered Crime Coverage For Small Businesses Backed by Aspen Insurance

[To share your insights with us, please write to sghosh@martechseries.com

Related posts

Cleareye.ai Collaborates with Microsoft for AI Platform

Fintech News Desk

Optimal Blue Launches Market Analytics Solution in Response to Significant Demand for Market Data

Fintech News Desk

Volante Technologies Delivers Immediate Support for SWIFT Standards Release 2020 MT Messages

Fintech News Desk
1