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Use Case

MongoDB for Payments

Enrich the payments experience by consolidating and analyzing data in any format in real time, driving value-added services and features to consumers.

The role of the operational data layer (ODL)

By embracing modern payment solutions and leveraging the power of an ODL with MongoDB, organizations can unlock new growth opportunities, enhance operational efficiency, and deliver superior customer experiences.

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The enriched payments experience

Accept and enrich any payment data type

Consolidate and act upon any payment data type in real time with a flexible document data model. JSON documents (the same data format used by MongoDB) are the standard for payments data, including SWIFT 4 and 5, the Open Banking API, and BIAN.

Always on and secure

Eliminate downtime and outages with distributed fault tolerance and automated data recovery capabilities. Protect customer data with industry-leading encryption, access controls, and data protection protocols that integrate with existing practices.

API-driven payment solutions

Stay competitive and lower TCO with composable payment systems that combine best-of-breed products from third parties. Make data flow possible in your open API ecosystem with a flexible data model ready for the different data formats or structures.

Modern payment systems built with MongoDB

Industry leaders choose MongoDB to form the backbone of their always-on, always-secure, always-available payments platform.

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Artificial Intelligence innovation

MongoDB Atlas securely unifies operational, unstructured, and AI-related data to streamline building AI-enriched applications.

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Open Banking

Orchestrate your open API ecosystem to enable data transfer between banks, third parties, and consumers with a flexible data model ready for any requirement.

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Know Your Customer (KYC)

Unify your data, from backend payment processing to customer interactions, and surface insights to create a seamless, connected, and personalized customer journey.

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Mobile apps

Launch and scale always-on and secure mobile applications, integrate third-party services with APIs, and speed up approval times to meet customer expectations.

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Fraud detection

Increase the speed of insights to identify fraud with app-driven analytics. Integrate with AI/ML platforms for real-time, predictive fraud prevention.

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Security and compliance

Continuous backups, high availability across multiple regions, and detailed audit logs let banks track operations in real time.

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Instant scale

MongoDB Atlas delivers the multi-cloud, native scalability, and high availability today’s payment platforms demand.

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Ensure high availability

MongoDB Atlas delivers the multi-cloud native scalability and high availability today’s payment platforms demand.

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Run anywhere

Deploy data on-premises or in over 125 regions with a multi-cloud environment to enjoy reliability, security, and flexibility, and support regulatory compliance.

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Embrace real-time analytics

Analyze payments data in place and in real-time, with no ETL or duplication. Increase the speed of insights and improve efficiency.

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Secure your data

With a layered security approach, including client-side field-level encryption, MongoDB Atlas supports compliance with major security standards.

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Support compliance

Embedded TTL indexing, as well as Online Archive and Data Lake, simplify regulatory compliance.

NEXT GENERATION CARD PAYMENTS

“MongoDB handles more than 20 terabytes of data per day and supports over 80 microservices. We’re currently using the operational data store to run our rewards and loyalty programs.”

Nadeem Kayani
EVP/CIO of Consumer Lending, Wells Fargo

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NEXT GENERATION CARD PAYMENTS

“MongoDB handles more than 20 terabytes of data per day and supports over 80 microservices. We’re currently using the operational data store to run our rewards and loyalty programs.”

Nadeem Kayani
EVP/CIO of Consumer Lending, Wells Fargo

Read the whole story

REAL-TIME PAYMENTS

“We went live two months into the COVID pandemic. A flick of the switch and payments started flowing. We’ve had over 3 million transactions now. No issues, it just simply worked. With this solution, we can run on any cloud provider we want.”

Chris Clark
Principal Engineer, Macquarie Bank

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Payment processing

“Any processes that need fast serialization, deserialization of JSON objects, or involving multiple JSON objects work best on NoSQL databases. MongoDB is super fast and super flexible. Settlement, clearing, and billing run on AWS, Oracle Cloud Kubernetes Engine, and Google Cloud. They all use different databases but publish to a managed Kafka bus that is consolidated in MongoDB Atlas to make sure everything adds up.”

Nick Fryer
CTO, Dojo

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CASHLESS PAYMENT PLATFORM

“MongoDB Atlas will help us scale across Europe, horizontally and securely. We’ve sharded our data across sites only within Europe to comply with GDPR regulations and ensure high availability across data centers provides the level of durability we need to protect financial transactions in the event of an outage.”

Tahir Jamal
Technical Product Owner, Nexi Group

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Industry partnerships

MongoDB’s robust partner ecosystem goes beyond the major cloud providers, with global industry organizations integrating MongoDB into their financial services solutions.

Find the right partner for you

Volante Technologies, a trusted cloud payments modernization partner, works with MongoDB on its VolPay solution designed for payments innovation and transformation across the payments lifecycle.

Icon Solutions, utilizing MongoDB-architected and developed Icon Payments Framework (IPF) for real-time and direct account-to-account payments, meeting the needs of a service-driven, modular payment ecosystem.

Minsait has partnered with MongoDB for data storage and management development, with a more dynamic and operational system, enabling the agile transition of businesses towards more innovative technologies.

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Get valuable insights on how to leverage MongoDB for payments.

Payments modernization solution accelerator

MongoDB gives financial services organizations a powerful tool for modernizing their payment systems efficiently. Learn how to build an operational data layer (ODL) to unlock siloed payment data and power modern applications.

Enrich your payments experience with MongoDB

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