Merchant Enablement Platform
AWS, SQS/SNS, Microservices, Postgres, jOOQ
Tide (Tide Platform Limited) is a UK financial technology company providing mobile-first banking services for small and medium-sized enterprises. It enables businesses to set up a current account and get instant access to various financial services (including automated bookkeeping and integrated invoicing).
When Tide started working on this idea in Feb 2021 with the Knoldus team, there was a very vague idea of all the operations that this service will be responsible for. The team put in efforts and with the correct technical expertise in the given domain, we were successfully able to integrate with the on-boarding of Tide customers with the third-party provider(Adyen) using some of the existing services to transform the legacy data by the end of June.
From July till September, the team worked on enabling the payments using 3DS technology and handling the payouts to Tide Customer accounts as well as the Tide commission for each transaction made.
The Knoldus team used their expertise in AWS, SQS/SNS, PostgreSQL, jOOQ, Java11 to achieve the proposed architecture.
On the data model side, there were going to be linkage of every Spoke with Spokers. There are also linkages between Spoker's following other Spoker's and doing re-spokes. Another major challenge is to keep performance of every api under 100ms.
A Tide member would make a request to the Merchant acquiring service by accepting the terms and conditions. The request trickle down to MAS, which starts collecting data of the said member via several internal services (Account service, User service, Address Service). All this information is aggregated by MAS and is sent to the Adyen adapter for transformation into a format that the third party can understand.
Adyen adapter then tries to onboard the member with the third party(Adyen in this case), takes care of doing the KYC validations performed by Adyen.
Once the onboarding is complete, The tide member can start accepting payments from its customers via Tide mobile/web app.
Tide member accepts payments by creating invoices/standalone link for its customers. A one-time payment link is shared with customers via email/in-app invoice.
Once the user clicks the payment link and fills out the details, the Adyen adapter processes the payment and submits it to the third party. The result is relayed back to the customer and tide member. Adyen adapter handles all the payouts (Payout policy is T+2 days) done by a third party after removing its fee/commissions etc.