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Obviously this brings a ton of complexities for the engineers at Stripe, and how this service is scaled could be an interesting blog post in itself. In fact, in 2018 it was found that the median Stripe client is operating in more than 100 countries around the world and processes 600,000 online transactions per year that results in annual revenue of $9 million (Jewell, 2018). Stripe’s payment processing system is no different. Taking a broader perspective of TPS, I think we will continue to see this trend where companies will choose to implement information systems that are less of a headache for web developer and engineers.Ī consistent factor in transaction processing systems is the shear quantity of data involved. This makes complete sense when you think about it, as more and more companies move towards the internet as a selling platform, they will often choose the payment processing system that gets them up and running in the shortest possible time, and evidently the system provider for this is Stripe! With clean, clear documentation and developer-friendly code, the emphasis on how easy Stripe’s APIs can be implemented clearly resonates with the developer community. In Stripe’s case, they have done this is by putting the web developer at the centre of their design. A HIGH CAPACITY TRANSACTION PROCESSING SYSTEM SOFTWAREAs mentioned, the removal of the hardware barrier for many TPS has resulted in a shifted focus towards the efficient design of software to give TPS companies a winning edge. So, this is where Stripe as well as many other successful enterprise computing platforms shine through. In Stripe’s case, I think they are a great demonstrator of the power of internet commerce where physical barriers can be bypassed by clever payment processing system engineering. Do you think this would be possible if each customer was required to own a specific piece of hardware for each transaction? Or, what if the sellers had to record the bank details of each customer and then carry out multiple individual bank transfers? Essentially, the lack of hardware involved is the strength of a modern-day TPS, allowing companies to rapidly reach economies of scale. $385 million in sales everyday (Buck, 2020). For example, take Amazon, a Stripe customer that facilitates approx. That is, in terms of the amount stakeholders involved. This is ideal for a TPS as they are generally the largest type of system implemented in organisations. Let’s take a closer look at what makes Stripe a great example of a TPS, using the 5 components of an information system as headings: Hardwareįor Stripe to function, the only hardware really required is a device that can connect to the Internet. That is where I would argue that the real value unlocked by Stripe’s product is the inherent TPS that allows businesses to process and manage payments in a far simpler manner than what their predecessors could offer. At first glance, this does not seem a whole lot different to PayPal or bank wire transfers which were available long before Stripe even existed. Plus, it was founded by two Irish brothers! For anyone not so familiar with this company, Stripe is essentially an online payment processing platform for companies big and small. A Closer Lookįor this blog, I’m going to use Stripe as a case study of a TPS provider since it’s currently very topical and they provide a service that companies seem to genuinely love. These products often come under the umbrella term: Enterprise Computing. Beyond this, some other big names in the Transaction Processing Systems market include Salesforce for CRM, Stripe for payments and QuickBooks for accounting. A HIGH CAPACITY TRANSACTION PROCESSING SYSTEM FULLHowever, did you know that many multinational tech companies are also responsible for designing a lot of the existing TPS? For example, we’ve all heard of Office 365, but did you know Microsoft also has a full suite of products just for business management? Check it out here, it’s called Dynamics 365 and it covers everything from Sales to HR to Inventory Control –if the website is anything to go by, it also transforms the running of a business into a utopian dream. Given the shear scale of their customer base, it really comes as no surprise. I’m sure I’m not the only person that immediately thinks of the many multinational companies that must implement these systems as well. In fact, I think it would be difficult to locate a large cap company in the developed world that does not have some sort of SCM system or payment processing technology. ![]() ![]() Processing System at an Amazon Fulfillment Centre ![]()
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