MongoDB for Payments

The payments industry is changing fast.
You need a database flexible enough to keep up.

Consumers today expect quick, seamless payment transactions, whether paying by smartphone or through a point-of-sale device. Banks, payment service providers (PSPs), and other industry participants have to meet these expectations while adhering to constantly shifting regulations. Meet evolving customer expectations, comply with regulations, and stay ahead of your competition with an agile approach to data.

Modernizing your payments architecture is critical—and updating to a database that can evolve alongside these ever-changing regulations and expectations is the first step.

DATA AGILITY

Payment workflows need data agility

An agile, modern database can play a key role in addressing payment industry challenges. Data agility is the speed and reliability with which you can alter the structure, format, location, and storage of your data in response to changing information and requirements. Add new sources of data in any format or structure, and get value from it immediately. Data agility delivers:
Better customer experiences

Customers demand fast, frictionless payment experiences and instant, round-the-clock access to account information. The right database can help you meet these demands by providing:

  • Actionable Customer Insights: MongoDB’s Operational Data Layer pattern combines previously siloed data sources and unlocks a unified single view of customer data.

  • Resilient Scale-Out Architecture: Maintain highly available and responsive experiences, even as transaction volumes grow.

  • Agile Data Development: Change-friendly architecture enables you to cut release cycle time dramatically, improving speed to market and lowering risk.

Painless regulatory compliance

Government regulations and industry standards are continuously shifting. From data locality regulations to evolving customer privacy laws, these changes can have important implications for technologies that support payment processes.

A modern database can help you maintain compliance without adding IT complexity or costs by delivering:

  • Flexible Document Data Model: Store and combine data of any structure and modify schemas dynamically as your data evolves using MongoDB’s flexible data model.

  • Real-Time Intelligence: Workload isolation allows you to query operational systems in real time without duplicating data or impacting performance.

  • Horizontal Scalability: Keep years of data online in a queryable form at a fraction of legacy cost, while maintaining consistent low response time.

Cutting-Edge Operational Efficiency

New industry entrants are capitalizing on new technologies and driving down transaction fees. You need ways to innovate quickly while also enhancing operational efficiency. The right, modern database can help you increase business agility while cutting costs by offering:

  • Multi-cloud flexibility: MongoDB runs across clouds, allowing you to reduce costs and avoid vendor lock-in

  • Expressive Query Language: The MongoDB Query Language (MQL) provides an intuitive, powerful, full featured way to interact with document data.Make it easier for DevOps to create, run, and manage applications

  • Integrated Business Intelligence: MongoDB Atlas’s integrated Charts, BI Connectors, and Data Lake give you a solid foundation for advanced analytics.

Customers demand fast, frictionless payment experiences and instant, round-the-clock access to account information. The right database can help you meet these demands by providing:

  • Actionable Customer Insights: MongoDB’s Operational Data Layer pattern combines previously siloed data sources and unlocks a unified single view of customer data.

  • Resilient Scale-Out Architecture: Maintain highly available and responsive experiences, even as transaction volumes grow.

  • Agile Data Development: Change-friendly architecture enables you to cut release cycle time dramatically, improving speed to market and lowering risk.

TOOLS & SERVICES

How does MongoDB’s data agility
help me?

If you’re designing a new payments product MongoDB's data agility allows new products to get to market quickly, without data fragmentation and unnecessary complexity.

If you’re a mature enterprise looking to modernize your payment landscape, leverage MongoDB’s flexibility to use it as a consolidated Operational Data Layer, enabling you to build new services and products rapidly using existing data without a risky rip-and-replace.

Data agility allows mature companies to get more value from their data quickly, and provides a clear path to broader modernization and a single view of the customer.

CUSTOMERS

Success stories

MongoDB helps global businesses in the payments industry around the world deliver new digital experiences, keep pace with changing regulations, and reduce costs.
PRODUCTS AND SOLUTIONS

Run MongoDB on premises or in the cloud

MongoDB’s unique combination of the inherent flexibility of the data model, horizontally scalable architecture, and unmatched developer usability make it a perfect fit for the complexities of payments data. Whether you’re building from scratch and want the best tool for handling transactional data across channels, or you’re a mature enterprise looking to modernize and consolidate siloed and inaccessible transactional data stores, we can help you build faster, and get more value from your data.

Ready to get started?

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