Seamless payments with mode-of-payment abstraction
In the last few decades, considerable progress has been made around payment interoperability and the world's continued push toward increasing e-commerce volumes has necessitated innovation in the digital payments space. Today, users have to deal with a scattered payment landscape where multiple payment processors exist and users have to grapple with how they send and receive money across the varying payments processors. "Mode-of-Payment Abstraction" represents a different way of processing transactions that effectively enables users to complete transactions without the need to know what specific e-wallet type a recipient of a transaction is using and vice versa. It hides this level of detail from the paying and receiving ends of a transaction, allowing individuals to only think at the level of "who" without any regards for the "how". Mode-of-payment abstraction seeks to make the notion of different payment modes and processors obsolete to individuals and businesses, enabling true payment interoperability across all payment types. This capstone project explores the framework that must exist to support a mode-of-payment abstraction based system and implements such a service.
Applied project submitted to the Department of Computer Science and Information Systems, Ashesi University, in partial fulfillment of Bachelor of Science degree in Computer Science, May 2021