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Online Payment Systems
in Turkish E-Commerce:
Merchant Experiences
24.02.2015
EticaretSEM, TEB Incubator
İstanbul
1Accepting payment is now easy
https://www.iyzico.com
Predefined and Sequential Life:
Birth, School, University, Consultancy, Corporate Career, ...
2
@hakanerdogan
Life with Entrepreneurship:
Uncertain, ups and downs, stressfull, enjoyable, passionate, roller-coaster ...
1981 2005 2007 2012
2014Feb
Accepting payment is now easyhttps://www.iyzico.com
2014Nov
iyzico
3
Payment Systems Experience, Since 2007
Credit / Debit Cards :- EST / Asseco- Garanti Bank GVP- YKB Posnet
EFT / Wire Transfer:- Integration of
Internet Banking
Accepting payment is now easyhttps://www.iyzico.com
Business Models in E-commerce
4
Business Model İş Modeli
Marketplaces Pazaryerleri
E-Retailers E-Perakendeciler
Classifieds İlan Siteleri
Private Shopping Özel Alışveriş Kulüpleri
Group Buying Grup Satınalma / Fırsat Siteleri
Verticals Dikeyler
Price Comparison Fiyat Karşılaştırma Siteleri
Services over Internet İnternet Üzerinden Hizmet Satan Siteler
… …
Accepting payment is now easyhttps://www.iyzico.com
Why Payment Systems are so Important ?
• Payment systems are major sub-ecosystems of e-commerce
• Payment Systems always grow parallel with e-commerce:
6Accepting payment is now easy
https://www.iyzico.com
Why Payment Systems are so Important ?
• Banks and telco companies drives payment systems in Turkey
:
o BKM Express
o İş Bank Parakod
o Garanti Bank iGaranti
o DenizBank FastPay
o Turkcell Cüzdan
o Vodafone Cep Cüzdan
o TTNET & Avea Mobilexpress
o …
7Accepting payment is now easy
https://www.iyzico.com
8
Chronology of Payment Systems in Turkey
iPara November 2011
PaymentWall Turkey Office October 2011
PayU Turkey Office September 2011
PaytoGo Mid 2011
PayPal Turkey Office Early 2011
Mobilexpress Early 2011
Asseco SEE July 2010
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9
Chronology of Payment Systems in Turkey
Vodafone Cep Cüzdan November 2013
Garanti Bank iGaranti May 2013
iyzico Turkey Office April 2013
DenizBank FastPay January 2013
İş Bank Parakod October 2012
Turkcell Cüzdan October 2012
BKM Express June 2012
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10
Chronology of Payment Systems in Turkey
…
…
Öde.Al April 2014
Monitise – Pozitron Acq. February 2014
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Cash on Delivery and EFT / Wire Transfer
12
1. Asenkron Ödeme Sistemleri (Asynchronous Payment Systems)
a. Kapıda Ödeme (Cash on Delivery = CoD)
b. EFT / Havale (EFT / Wire Transfer)
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Cash on Delivery and EFT / Wire Transfer
13
1. Asenkron Ödeme Sistemleri (Asynchronous Payment Systems)
a. Kapıda Ödeme (Cash on Delivery = CoD)
b. EFT / Havale (EFT / Wire Transfer)
Accepting payment is now easyhttps://www.iyzico.com
Card Payment Systems
14
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
a. Kartlı Ödeme Sistemleri (Card Payment Systems)
i. Kredi Kartları (Credit Cards) * 57 million
ii. Banka Kartları (Debit Cards) * 102 million
iii. Ön Ödemeli Kartlar (Prepaid Cards)
* BKM, August 2014: http://www.bkm.com.tr/istatistik/pos_atm_kart_sayisi.asp
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Card Payment Systems
15
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
a. Kartlı Ödeme Sistemleri (Card Payment Systems)
i. Kredi Kartları (Credit Cards) * 57 million
ii. Banka Kartları (Debit Cards) * 102 million
iii. Ön Ödemeli Kartlar (Prepaid Cards)
* BKM, August 2014: http://www.bkm.com.tr/istatistik/pos_atm_kart_sayisi.asp
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Online / Digital Wallets
16
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
b. Alternatif Ödeme Sistemleri (Alternative Payment Systems)
i. Online / Dijital Cüzdanlar (Online / Digital Wallets)
BKM Express
iPara
PayPal
…
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Online / Digital Wallets – BKM Express
17
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
b. Alternatif Ödeme Sistemleri (Alternative Payment Systems)
i. Online / Dijital Cüzdanlar (Online / Digital Wallets)
BKM Express
iPara
PayPal
…
Accepting payment is now easyhttps://www.iyzico.com
Mobile Wallets
22
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
b. Alternatif Ödeme Sistemleri (Alternative Payment Systems)
ii. Mobil Cüzdanlar (Mobile Wallets)
İş Bank Parakod
Turkcell Cüzdan
TTNET & Avea Mobilexpress
iGaranti
Vodafone Cep Cüzdan
FastPay
…
Accepting payment is now easyhttps://www.iyzico.com
Mobile Wallets – İş Bank Parakod
23
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
b. Alternatif Ödeme Sistemleri (Alternative Payment Systems)
ii. Mobil Cüzdanlar (Mobile Wallets)
İş Bank Parakod
Turkcell Cüzdan
TTNET & Avea Mobilexpress
iGaranti
Vodafone Cep Cüzdan
FastPay
…
Accepting payment is now easyhttps://www.iyzico.com
SMS Based Payment Systems
27
2. Senkron Ödeme Sistemleri (Synchronous Payment Systems)
b. Alternatif Ödeme Sistemleri (Alternative Payment Systems)
iii. SMS Bazlı Ödeme Sistemleri (SMS Based Payment Systems)
Mikro Ödeme
PaytoGo
…
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Infrastructure Providers
28
3. Altyapı Sağlayıcılar (Infrastructure Providers)
a. iyzico
b. PayU
c. PaymentWall
d. …
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API Providers & Gateways
29
4. API Sağlayıcılar (API Providers & Gateways)
a. Asseco SEE (EST)
b. Garanti Bank - GVP
c. Yapı ve Kredi Bank - Posnet
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Breakdown of Payment Systems in Turkey
30
Asynchronous Payment Systems
Cash on Delivery
EFT / Wire Transfer
Card Payment Systems
Credit Cards
Bank Cards
Prepaid Cards
Online Wallets
BKM Express
PayPal
iPara
…
Mobil Wallets
İş Bank Parakod
TurkcellCüzdan
TTNET & AveaMobilexpress
iGaranti
Vodafone Cep Cüzdan
…
SMS Based Payment Systems
Mikro Ödeme
PaytoGo
…
Infrastructure Paroviders
iyzico
PayU
PaymentWall
…
API Providers and Gateways
Asseco SEE
Garanti Bank GVP
Yapı ve KrediBank Posnet
Alternative Payment Systems
Synchronous Payment Systems
Accepting payment is now easyhttps://www.iyzico.com
E-commerce Steps and Flows
31
SEO
Adwords
Affiliate
SEM
…
1- Traffic
$ $ $
Product Image
Add to Basket
E-commerce Site
Product Info
4- Add to Basket2- Registration
Name
Surname
Password
Password (re)GSM
Sex
+90
Reg. Form
M F
Register
3- Desire
Search, browse, find
women shoes Search
Accepting payment is now easyhttps://www.iyzico.com
E-commerce Steps and Flows
32
Address(Delivery/Invoice)
Selection
Basket –Product
Selection
Payment Method Selection
PaymentResult
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How to Increase Basket Conversion Rate
34
Address(Delivery/Invoice)
Selection
Basket –Product
Selection
Payment Method Selection
PaymentResult
SUCCESS = CONVERSION
SHOPPING CART ABANDONMENT
%65+ *
* http://www.ritholtz.com/blog/2012/05/shopping-cart-abandonment/* http://baymard.com/lists/cart-abandonment-rate
GOAL: To Increase Conversion
• Minimum page transition
• Minimum click
• Minimum distracting elements
• Maximum information
• “Above the fold” concept
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Minimum Page Transition and Click
35
Max. 3 pages
No name surname, bank selection, card type (visa, mastercard, amex) selection
If there is only 1 address then skip address page
Do not use 3DS in possible
Expire Month & Year is asked before CVC2 and formatted as 08/17
Accepting payment is now easyhttps://www.iyzico.com
Minimum Distracting Elements
36
No Menu, banner, logo, ads, basket items are clear
Additional info is given in modal/lightbox without leaving page
Clear header and no links
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Maximum Information
37
Clear breadcrumb
Card logo, bank, and association is displayed
Basket and address summary is displayed
All banks installments and given card installments are displayed
CVC2 and 3DS information is given
Accepting payment is now easyhttps://www.iyzico.com
Above the Fold Concept
39
Buttons and links are below the page
Visible area of page
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Above the Fold Concept
40
Visible area of page
Buttons and links are placed in the visible area of the page
Accepting payment is now easyhttps://www.iyzico.com
Design of Card Payment Page
42
Syntactic and SemanticValidations
• Length validation
• Numeric input validation
• 3DS supported card validation
• Debit card installment validation
• BIN validation and not existingVirtual POS – installment validation
• …
e.g.: Card Number• 15 or 16 digits, • CVV/CVC 3 or 4 digits, numeric• Luhn Algorithm check
Accepting payment is now easyhttps://www.iyzico.com
Distribution of Payment Errors
• 20 – 25 % of payment requests are failed
• Roughly 1/3 of those failed payment requests are caused by “insufficient funds– not enough limit” (33 – 38 %)
• Other Payment Errors:
o General declined (15 – 18 %)
o Invalid expire year or month (10 – 12 %)
o Invalid CVV / CVC (2 – 3 %)
o 3DS not supported by card / bank
o Card does not support installment
o Can not proceed, card is not allowed to internet payments
o Technical problems, …
43Accepting payment is now easy
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Error Messages to Display
44
• Your card number is not valid, …
• Your expire year and month is not valid, …
• Your CVV / CVC2 is not valid, …
• Your card does not support installment …
• You can not make installment payments with debit cards, …
• Your card limit is below the payment amount, …
Accepting payment is now easyhttps://www.iyzico.com
Error Messages to Display
45
• Your bank does not proceed the payment request, …
• Your card/bank does not support 3DS payments, …
• Order ID is already used before, …
• The items you are getting to buy are out of stock, …
• Payment transaction is failed, …
• …
Accepting payment is now easyhttps://www.iyzico.com
Payment and Refund Tests
46
Total 100 TL
20 TL
30 TL
50 TL
32 x Virtual POS x … ~ 100+ payment tests
Refund Tests
• Refund and cancel of 100 TL• Refund of 20 TL• Partial refund: 5 TL of 20 TL• Second partial refund: 10 TL of 20 TL• Cancel of refund of 100 TL • …
Accepting payment is now easyhttps://www.iyzico.com
Payment and Refund Tests
47
• Payment systems do not have a tolerance for a mistake
• You have to go live with 0 bug
• It’s better not to accept payment than accepting payment with bugthat you haven’t realize (it may be too late when you realize thebug)
• If there is a 2 minute outage, the alarm bells start to ring
• Payment systems for the health of the heart and blood vesselsMaximum adrenaline
Accepting payment is now easyhttps://www.iyzico.com
Proactive Monitoring: Payment and Refund
48
Now is Thursday 03:40 pm.
Considering last week Thursday between 00:00 – 03:40 pm and last 4 week average:
o How many payment transactions requested ?
o What about the amout of those transactions ?
o What about the breakdown of those transactions based on Virtual POS’sesand card families?
o What about the success and failure rates ?
o What about the distribution of payment errors ?
o What about the standart deviation of those transactions ?
o …
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Proactive Monitoring: Payment and Refund
49Accepting payment is now easy
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• Daytime- Based on Virtual POS’ses
o The count of payment transactions in last 2 minutes > 0 ?
o The count of payment transactions in last 3 minutes
> (last 4 week average) x 0.85 ?
o The amount of payment transactions in last 5 minutes
> (last 4 week average) x 0.85 ?
o The count of payment errors in last 10 minutes
> (last 4 week average) x 0.85 ?
• At Night- Based on Virtual POS’ses
o …
Status Quo
50Accepting payment is now easy
https://www.iyzico.com
Shopping Steps
Card Payment Page (minimalist approach, the maximum information)
Syntactic and Semantic Validations
Distiribution of Payment Errors
Payment Errors to Display
Payment and Refund Tests
Proactive Monitoring
New Feature Development ve 4 Check Points
51
4- Is there a payment problem ?
51
1- Is there a Fraud risk ?
2- Is there a refund problem?
3- Is there an accounting problem?
Accepting payment is now easyhttps://www.iyzico.com
Fraud and Chargeback
52
• Fraud detection, fraud prevention and monitoringmechanisms
o User’s history and profileo Item’s priceo Online item / offline itemo Payment location, IP address and cookie informationo Other cards used by the usero Cardholder name surname vs user membership name
surnameo Shipment address vs membership address informationo Payment errors encountered by usero Payment fail / success statistics of usero …
Accepting payment is now easyhttps://www.iyzico.com
Fraud and Chargeback
53
• Fraud detection, fraud prevention and monitoringmechanismso Rule setso Learning systemso Data mining considering previous datao Potential risk algorithms
• Chargeback Flowo Chargeback requesto The appeals processo Returning/rejecting the chargeback request
Accepting payment is now easyhttps://www.iyzico.com
Security
54
• Personal Security
o Using known and safe shopping sites
o Considering key-logger in public internet
o Using 3D Secure
o Using virtual cards
o … • Corporate Security
o Not storing card information
o PCI – DSS
o Audit
o Penetration tests
o …
Accepting payment is now easyhttps://www.iyzico.com
Thanks
56
@hakanerdogan
http://www.odemesistemleri.org
@odemesistemleri
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