MIT Web Credit Card Processing

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MIT Web Credit Card Processing

• Lorraine J. Rappaport
• ltljr_at_mit.edugt

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The Business Case

• Inquiries from internal merchants to Accounting
  and Information Systems expressing a need for
• Secure online credit card processing
• Help to create storefronts
• Accountings desire to
• Streamline procedures for recording receivables
• Reduce the number of cash and check transactions
  processed by the Cashiers Office

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Design Considerations

• Must allow for multiple distinct
  storefronts/merchant Ids
• Server must encrypt data transmission (no plans
  to store credit card data)
• Merchants must be able to customize, e.g., to
  require customer registrations or not
• Credit card verification and credit card
  settlement must be separate steps

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Design Considerations (cont.)

• Transaction server must not require that we use a
  specific web catalog tool. That is, merchants
  should be able to utilize existing web
  storefronts if they wish
• Must be able to integrate with SAP R/3 and
  potentially merchants databases. Ability to
  send email, fax, etc. notifications desirable

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Host vs. Buy?

• Decision to BUY based on
• Desire to control as many aspects of the
  configuration and operations as possible
• Expectation that this is a long-term investment
• Possibility of designing additional services
  around this, e.g., greater support for one-time
  event registrations

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Host vs. Buy? (cont.)

• Possible expansion of this solution for other
  types of purchases, e.g., internal provider
  transactions, etc.
• We would prefer not to pay transaction costs or
  any other costs tied to volume or other growth
  metric

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Proposed Design
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(Buy) Vendors Considered

• Trintech (PayWare Net)
• Open Market (Transact)
• SAP (Online Store)
• Also looked into
• Clear Commerce
• Pandesic

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Tentative Recommendation

• Trintech(pending in-house evaluation), because
• Architecture seems more flexible, adaptable
• Better able to support possible future
  applications
• Company seems to have a better understanding of
  the financial industry
• Much less expensive
• Collaboration with SAP

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Catalog Development Tool

• Currently evaluating Intershop
• May need other options - - Suggestions welcome!

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For More Information

• Call or email me 617.253-0749 or ljr_at_mit.edu
• Our project web page http//web.mit.edu/is/disco
  very/ccard