The challenge
Integrating crowdfunding in a regulatory-compliant manner
Our client was selected as the payment service provider for an existing donation crowdfunding platform and was keen to provide cashless payment services to new and existing customers of this platform in a timely manner. Since this was a crowdfunding platform, it was not only necessary to connect the existing solution to the VR Payment payment gateway. It was also necessary to ensure that the donations were managed in trust until a set donation target was reached and returned to the donors if the target was not reached. OSTHAVEN accompanied the entire project until it was handed over to regular operation.
The solution
Gateway integration with trust logic
With the help of several workshops moderated by OSTHAVEN between our client and the external stakeholders of the crowdfunding platform, the requirements for connecting to our client’s payment gateway were defined. After connecting to the platform, tests were carried out to simulate the onboarding of a crowdfunding project, the collection of donations, and the subsequent payout. Once the tests had been successfully completed, new donation projects could be accepted to support social projects. With the completion of the first donation projects and the associated monitoring of cash flows, the project was concluded and finally handed over to regular operation.
The result
Scalable donation processing established
With the help of the connection to our customer’s payment gateway, the operators of the donation platform were able to offer all relevant payment methods to project supporters. In this way, a three-digit number of social projects was achieved in the first few months. In particular, the automated onboarding function, the transparent sales overview, and the associated overview of donation progress helped to achieve goals more quickly and provide support to those in need more rapidly.
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