Detailed explanation of the technology and business architecture of cross-border e-commerce payment and settlement system
The technical architecture of cross-border e-commerce payment and settlement systems usually consists of three layers: support layer, core layer and product layer.
Support layer
The support layer provides the necessary infrastructure for the payment system to ensure the stability and security of the system. These include operation and maintenance monitoring systems, log analysis systems, SMS platforms, security mechanisms, and statistical reports.
Operation and maintenance monitoring system
In order to promptly respond to various internal and external interferences that may occur during the operation of the payment system, such as fiber interruptions, hacker attacks, etc., an operation and maintenance monitoring system is essential.
Log analysis system
Logs serve as an important basis for statistical analysis and operation and maintenance monitoring. A unified log collection and analysis infrastructure is crucial to the healthy operation of the payment system.
SMS platform
The SMS platform plays a key role in identity verification and secure login during the payment process.
Security mechanism
Security is the lifeline of the payment system. SSL protocol, certificate system, etc. constitute the security defense line of payment.
Statistical reports
Visual display of payment data helps the company make decisions, and the statistical reporting system provides this function.
Payment core system
The payment core system is responsible for processing users’ payment requests, from initiating the payment process to the final fund transfer, involving payment applications, payment routing, payment channels and other links.
Payment service system
The payment service system is further subdivided into basic service system, capital system, risk control and credit system.
Basic service system
The basic service system covers customer information management, card and coupon management, payment channel management, account and accounting system, order system and other functions.
Funding system
The financial system includes accounting, fund management, liquidation and profit sharing and other functions to ensure financial accuracy.
Risk control and credit system
The risk control system is responsible for assessing the risk of each transaction, while the credit system provides additional services on this basis.
Business structure
The business architecture of the cross-border e-commerce payment and settlement system mainly includes five modules: merchant module, capital channel module, business module, financial module and cross-border core clearing and settlement system.
Merchant module
The merchant module includes sub-modules such as virtual account, management platform, multi-currency cashier and dispute management.
Financial channel module
The capital channel module connects domestic/foreign card issuing banks, international credit card organizations, domestic exchange banks and international exchange banks, as well as domestic/foreign acquiring banks and exchange rate service agencies.
Business module
The business module provides a series of solutions such as multi-currency account custody, prepaid cards, fund collection and payment, and international remittance.
Financial module
The financial module relies on basic payment services and provides value-added services such as cross-border finance, foreign exchange balance management, and overseas consumer credit.
Cross-border core clearing and settlement system
As the heart of the entire architecture, the cross-border core clearing and settlement system supports clearing and settlement of multiple currencies, multiple card issuers, and multiple card types.