Oracle iPayment is an electronic payment processing solution designed for application developers, system integrators, and enterprises that need to interact with payment processors for their new or existing Internet or client/server e-commerce applications to process Credit Cards or Purchase Cards. It lets you build integrations with financial institutions and payment processors for payment and receipt processing. Oracle iPayment offers easy installation, administration, and extension capabilities.
The risk management functionality of Oracle iPayment can quantify and identify fraudulent online transactions for both business-to-business and business-to-consumer models.One needs to install and configure the ECApp servlet before the integration of iPayment can work with the Ebusiness Suite products such as Order Management, Account Receivables and iStore. The ECApp servlet provides an interface to the iPayment engine to process payment related operations such as authorization, capture, and return. The ECApp servlet is primarily used for the PL/SQL APIs provided by iPayment. Following Backend Payment (BEP) systems are supported by Oracle iPayment for Credit Card and Purchase Cards
|Credit Card||Purchase Card|
|First Data (North)||Yes||Yes|
|Citibank Credit Card||Yes||No|
One of the advantages of implementing Oracle iPayment are the Risk factors it covers. Risk Factors such as AVS (Address Verification System) Code check, time of purchase, payment amount and various others can be setup for each payee (merchant). Multiple payees (merchant account) can be setup based on various Receivable Accounts it needs to be credited to and this is handled via the iPayment Administrator in conjuction with a Receivable Manager. Its very much possible both these functionalities are handled by person in an organization and it would be advisable to do so. However, in almost all the projects that I was involved in, Receivables Managers were a little wary about the iPayment UI, due to its look and feel and various additional setups that are required. With a little bit of training, this fear, of handling iPayment UI, can be overcome.Oracle iPayment provides APIs for authorization, settlement, and querying transaction status. You do not have to use all these APIs. You can choose to have your EC application handle only authorization, thus reducing development costs but requiring the payee to do more work for settlement and reconciliation.
One of the issues that seems to be showing up with iPayment Implementation is that the transactions get authorized but does not get remitted (or funds are not captured) into the merchant’s bank. Since there are many different BEP systems and it has its own APIs, servlets etc. it becomes very important to determine the origin of the issue. For all we know, it could be a compatibility issue between a Verisign or any BEP servlet and iPayment. To resolve such issues it is advisable to log a service request with Oracle and determine the compatibility between iPayment and BEP systems. There could also be instances where a customer did not get a full understanding of the iPayment Concepts or did not go through the Impementation guide -for eg., there are customers who have demanded Oracle why Purchase Cards are not supported by iPayment when it is actually one of their Vendors who do not support that method of payment, because their servlet (the java code) does not support it.It is higly advisable to get a very good understanding of iPayment and Receivables concepts before venturing into implementation stage.